| TF and Bhatia family are now business partners on 13:26 - Feb 20 with 4348 views | BlackCrowe |
Very good news I reckon. Mittals pulling out of QPR would be bad news - this makes it less likely in my opinion. |  |
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| TF and Bhatia family are now business partners on 15:26 - Feb 20 with 4144 views | Inglesio |
Thats Arun Bhatia and the Tata group nothing to do with 'Amit' Bhatia and teh Mittals |  | | |
| TF and Bhatia family are now business partners on 15:32 - Feb 20 with 4131 views | daveB |
| TF and Bhatia family are now business partners on 15:26 - Feb 20 by Inglesio |
Thats Arun Bhatia and the Tata group nothing to do with 'Amit' Bhatia and teh Mittals |
It's Amits Dad.
http://economictimes.indiatimes.com/news/news-by-industry/transportation/airline
MUMBAI: Tata Sons, India's largest conglomerate and Tony Fernandes founded Air Asia Bhd, Southeast Asia's biggest low cost airline plan to start an airline in India, after the country eased rules to allow overseas carriers to invest upto 49%.
An official for the Tata group said the its contribution to the joint venture would be merely as a "financial investor."
"It is very clear that they (Air Asia) would be running the operations," the Tata official said. In an interesting twist, the joint venture will have a third partner Arun Bhatia of Telestra Tradeplace Pvt, the airline informed the stock exchange in Kuala Lumpur.
Bhatia's son Amit is Lakhmi Mittal's son in law. Amit Bhatia and Air Asia's chief Tony Fernandes are also co owners of British soccer team Queens Park Rangers.
Air Asia filed a request with the FIPB today. Officials in the know say that the airline will be on a 100% low cost model, Air Asia will acquire they are allowed to pick up (49%).
A few hours before the announcement to stock bourses, Tony Fernandes tweeted: "AirAsia will be making a significant step in our journey of being an ASEAN airline. Very proud day for me."
Air Asia's affiliates are Thai AirAsia, Indonesia AirAsia, Philippines' AirAsia and AirAsia Japan.
AirAsia Group is the largest low-cost carrier in Asia in terms of fleet size and number of passengers carried. Air Asia going to follow same strategy in India. |  | | |
| TF and Bhatia family are now business partners on 15:33 - Feb 20 with 4125 views | soupandhoop |
well researched |  | | |
| TF and Bhatia family are now business partners on 16:32 - Feb 20 with 4023 views | Clive_Anderson |
Sounds like good news to me. More chance of the Mittals sticking about now I presume. | | | |
| TF and Bhatia family are now business partners on 16:44 - Feb 20 with 3993 views | stansleftfoot |
Other sources say Amit Bhatia is TF's partner via Telstra Tradeplace, Tata is obviously Indian owned as the 51% balance has to sit within India.
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| TF and Bhatia family are now business partners on 17:15 - Feb 20 with 3948 views | Jamie |
| TF and Bhatia family are now business partners on 16:44 - Feb 20 by stansleftfoot |
Other sources say Amit Bhatia is TF's partner via Telstra Tradeplace, Tata is obviously Indian owned as the 51% balance has to sit within India.
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Sounds about right.
Air Asia want into India, are only allowed 49% of the new company so lucky they had a trusted Indian businessmen to hold the 51% in either Bhatia Sr or Jr. | | | |
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