TROU­BLED FLIGHT

India Today - - STATES -

Fe­bru­ary 2013

Malaysia’s AirAsia Ber­had says it has ap­proached the FIPB for a pro­posed JV with Tata Sons and Arun Bhatia of Te­lestra Trade­place. AirAsia would hold 49 per cent stake in the JV, Tata Group 30 per cent and Bhatia 21 per cent

July 2013

BJP leader Subra­ma­nian Swamy moves the Supreme Court to quash the clear­ance given to AirAsia In­dia. In a PIL, Swamy terms the clear­ance il­le­gal and says sev­eral is­sues re­lated to for­eign con­trol and pol­icy had been over­looked in grant­ing it

Jan­uary 2015

Tata launches Vis­tara in a tie-up with Sin­ga­pore Air­lines, and gar­ners a mar­ket share of 3.8 per cent as on Septem­ber 2017

De­cem­ber 2016

Cyrus Mistry, who was ousted as Tata Sons chair­man in Oc­to­ber 2016, moves the Na­tional Com­pany Law Tri­bunal against his for­mer em­ployer. He al­leges that no due dili­gence was done be­fore fi­nal­is­ing the AirAsia deal, flags dis­crep­an­cies in the man­age­ment of AirAsia In­dia

June 2018

AirAsia’s op­er­at­ing loss more than dou­bles to Rs 97 crore in the first quar­ter of 2018 on higher air­craft fuel ex­penses as well as air­craft main­te­nance costs

July 2018

NCLT dis­misses Mistry’s pe­ti­tion. He then moves the Na­tional Com­pany Law Ap­pel­late Tri­bunal (NCLAT), where his plea is be­ing heard

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