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AAI-CHENNAI TOP 10 MKTS
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Formed in 2012 and to start operations in 2013. Proposed Malaysian-Indian low cost carrier (LCC), scheduled & charter, domestic, regional & international, passenger & cargo, jet airplane services.
Address:
Chennai, Tamil Nadu, India
INDIA (REPUBLIC OF INDIA) WAS ESTABLISHED IN 1947, IT COVERS AN AREA OF 3,287,590 SQ KM, ITS POPULATION IS 970 MILLION, ITS CAPITAL CITY IS NEW DELHI, AND ITS OFFICIAL LANGUAGES ARE HINDI AND ENGLISH.
October 2012: AirAsia (ASW) management stated that they were keen to have more presence in India if the aviation environment and tax structure were conducive and friendly for low-cost carrier (LCC) operations. With the Indian government allowing a foreign direct investment of up to 49%, AirAsia (ASW) Group Chairman, Tony Fernandez tweeted "Fantastic news that India has opened up investments to foreign airlines." He said that it was now easier for him to set up an airline in India. (ASW) wanted to take up a stake of 49% in the airline, which was the maximum allowed by the Indian government at that time. Tony Fernandes said that he had been closely observing the developments in India over the past few years and felt that it was the perfect time for him to set up an Indian version of his airline. (ASW) said that it was seeking government approval to establish a joint venture (JV) with two Indian companies, namely Tata Sons and and Amit Bhatia (owned by Telstra Tradeplace). Tata Sons would represent the airline with two non-Executive Directors in the airline's board. (ASW) planned to begin operations to Tier 2 and Tier 3 cities in India with Chennai International Airport as it's main base.
Soon after, AirAsia (ASW) announced that the shares of SpiceJet (ROJ), an airline that already had a major presence in Chennai, went down by over >-4.5%. Amber Dubey of (KPMG) India said that the introduction of (ASW) would cause another price war, which would ultimately lead to an increase in air traffic and some consolidation in the Indian aviation sector.
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