AirAsia CEO defends Tata Group deal after Subramanian Swamy's attack - Business Today

Home /BIZ WRAP /Deal Watch /Story BT Online Bureau    New Delhi   Last Updated: July 3, 2013  | 14:29 IST AirAsia CEO Tony Fernandes at a recent media interaction in Mumbai. PHOTO: Nishikant Gamre AirAsia CEO Tony Fernandes sprung to the defence of his low-cost airline's deal with the Tata Group, saying "vested interests" have held back growth in the country. Fernandes was replying in context with the Janata Party chief Subramanian Swamy calling the AirAsia-Tata deal "fraudulent" . Swamy had on Tuesday written to Prime Minister Manmohan Singh alleging corruption in the new venture. He was also vocal about his criticism of the Jet Airways -Etihad deal. Fernandes while defending the deal at a media conference in the national capital on Wednesday said: "It is a shame that India has lost many years to vested interest. The South Asian aviation industry is far, far ahead of India." Questioning the aviation ministry's guidelines on flying internationally, he said: "There are some bizarre rules; five years time before you can fly internationally! There are too many people who have vested interest, and they do not think of what India needs." At present, airlines must have domestic flying experience of at least five years to be eligible to fly to overseas destinations. With inputs from IANS Elder Pharma buys UK based OTC firm Random House, Penguin complete merger Nokia buys network operations from Siemens M&A deals up 12% in first half of 2013 Delhi Metro daily ridership crosses 23 lakh Sensex erases 2013 gains, down 260 pts via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGqT4TM3fZkg334XokqbiVIrrLqxg&url=http://businesstoday.intoday.in/story/airasia-ceo-defends-tata-group-deal-subramanian-swamy-jibe/1/196423.html

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