The Central Bureau of Investigation (CBI) in India has registered a case against Air Asia Group CEO Tony Fernandes and others over alleged violation of norms for getting international flying licenses. Tony Fernandes allegedly lobbied with government servants for clearances, removal of existing 5/20 rule of aviation and change in regulatory policies, the agency has alleged.
Well isn't the removal of 5/20 a good thing?
http://www.dnaindia.com/business/report ... ms-2619951
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Re: Case registered against Air Asia CEO Tony Fernandes
Can someone correct me if I am wrong, the 5/20 rule was put in place to make sure the airline has sustainable operation and financial means to operate without interruption. This is to avoid Kingfisher Airlines case from recurring, right?
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Re: Case registered against Air Asia CEO Tony Fernandes
Not quite - 5/20 pre-dated Kingfisher, which is why they bought Air Deccan as the vehicle to launch their international services. Using fleet size and age are poor indicators of its sustainability, and at least the 5 part has, thankfully, gone. The more that India's outdated (commercial) regulatory system catches up to the 21st century, the better, IMHO.
Re: Case registered against Air Asia CEO Tony Fernandes
So what is the violation here? Lobbying against 5/20 rule? Everyone is guilty of that.
As always with India, the real story will come out in due course.
As always with India, the real story will come out in due course.
All posts are just opinions.
Re: Case registered against Air Asia CEO Tony Fernandes
From the washington Post/AP...
https://www.washingtonpost.com/world/as ... dbf01b5460
"NEW DELHI — Indian investigators reportedly filed a corruption case Tuesday against the chief executive of regional budget airline AirAsia and some of his top deputies, saying the company paid bribes to get government approvals to launch its India operation.
Malaysia-based AirAsia chief Tony Fernandes, his deputy Bo Lingam and others were named in the complaint filed by the Central Bureau of Investigation, the Press Trust of India news agency reported.
The report said most of the bribes were paid through a “sham contract” with a Singapore-based company. The complaint did not say which Indian officials were allegedly bribed."
https://www.washingtonpost.com/world/as ... dbf01b5460
"NEW DELHI — Indian investigators reportedly filed a corruption case Tuesday against the chief executive of regional budget airline AirAsia and some of his top deputies, saying the company paid bribes to get government approvals to launch its India operation.
Malaysia-based AirAsia chief Tony Fernandes, his deputy Bo Lingam and others were named in the complaint filed by the Central Bureau of Investigation, the Press Trust of India news agency reported.
The report said most of the bribes were paid through a “sham contract” with a Singapore-based company. The complaint did not say which Indian officials were allegedly bribed."
harder than woodpecker lips...
Re: Case registered against Air Asia CEO Tony Fernandes
juliuswong wrote:Can someone correct me if I am wrong, the 5/20 rule was put in place to make sure the airline has sustainable operation and financial means to operate without interruption. This is to avoid Kingfisher Airlines case from recurring, right?
The opposite can be argued - Kingfisher collapsed because of VJMs foolhardy acquisition of Deccan to get around the 5/20 rule.
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