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AirAsia India News -- Part 2
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747-237
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PostPosted: Fri Feb 28, 2020 11:22 am    Post subject: Reply with quote

Air Asia India has added a pre-owned A320 to the fleet, as VT-VNS.
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5Patel
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PostPosted: Wed Jun 24, 2020 9:52 am    Post subject: AirAsia may eventually exit India JV: Report Reply with quote

https://travelobiz.com/airasia-may-eventually-exit-india-jv-report/

AirAsia may eventually exit India JV: Report

AirAsia Group Bhd group chief executive officer (CEO) Tan Sri Tony Fernandes hinted that the budget airline may exit its India joint venture (JV) because India is deemed a peripheral market for the group.

“We would never say that we would never exit India,” Fernandes was quoted as saying in a Credit Suisse report.

The Asean region is a core market for the airline, while India and Japan are peripheral markets, Fernandes said during a global call arranged by Credit Suisse.

He shared that they have a good partner in Tata and are looking for an international licence.

There has been market share gain in this resumed phase of flying (from 25 May),” Credit Suisse said in a report on 22 June.

“However, Air Asia said that it is not thinking of adding any new planes for a quite a while. Air Asia seemed to believe that oil prices can stay low for a long while (a lot of oil) and, thus, there are limited gains from a 15% fuel saving in a low oil price environment,” the report said.

“Air Asia seemed willing to take second-hand capacity if need be rather than go for a new plane.”

According to AirAsia Group’s annual report, the group owns a 49% stake in Airasia India.

News reports today cited the Credit Suisse report yesterday, which quoted Fernandes as saying during a global conference call organised by Credit Suisse that AirAsia had a good partner in Tata and they were looking for an international licence.

It was reported that an AirAsia India spokesperson was not available for comments.
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The_Goat
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PostPosted: Mon Jun 29, 2020 12:08 pm    Post subject: Re: AirAsia may eventually exit India JV: Report Reply with quote

5Patel wrote:
https://travelobiz.com/airasia-may-eventually-exit-india-jv-report/

AirAsia may eventually exit India JV: Report

AirAsia Group Bhd group chief executive officer (CEO) Tan Sri Tony Fernandes hinted that the budget airline may exit its India joint venture (JV) because India is deemed a peripheral market for the group.



Expected. The Tatas are obviously planning for a push to acquire AI once the Corona crisis is over. Air Asia India would be an unnecessary load.
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iah87
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PostPosted: Wed Jul 01, 2020 7:28 pm    Post subject: Reply with quote

If Tatas bid for AI is successful, then they will have Vistara and Air India. Will they be merged ? A merger with AI can be messy due to different pension obligations and benefits.

Air Asia will have to go for sure, Tatas will not be able to handle 3 airlines. Even now Tatas should be looking at offloading their share in Air Asia.
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iah87
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PostPosted: Thu Jul 09, 2020 5:54 am    Post subject: Reply with quote

https://www.channelnewsasia.com/news/business/airasia-trading-halt-12912720

Air Asia's shares plunge after a going concern warning. In the article it says that Air Asia has not been successful in India and Japan.

How will this affect its Indian ops. It looks like Air Asia wants to exit India and Japan. If it wants pull out, wonder what Tatas will do, buy them out if it is cheap or hope some other investor comes along to share the risk.
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PostPosted: Sat Jul 18, 2020 8:40 am    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/93242-tata-sons-mulls-airasia-india-exit

Tata Sons mulls AirAsia India exit

17.07.2020

Indian conglomerate Tata Sons has not only rejected AirAsia Group's proposal to take over the Malaysian group's 49% stake in AirAsia India (I5, Chennai), but is also considering selling its own 51% stake in the low-cost carrier, Live Mint has reported.

According to the terms of the joint venture agreement, Tata Sons has the right of first refusal in the event AirAsia Group plans to exit the Indian venture. While the group did not officially confirm any such plans and even denied that it was considering it "for the time being", sources said that it had indeed offered its stake to Tata Sons.

However, the Indian conglomerate is unwilling to increase its stake in the loss-making LCC and could exit it altogether to focus on Vistara (UK, Delhi Int'l), a full-service carrier in which it also owns a 51% stake (with Singapore Airlines Group holding the balance of shares).

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PostPosted: Wed Aug 05, 2020 6:48 am    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/93904-airasia-india-seeks-40mn-tata-mulls-buy-out

AirAsia India seeks $40mn, Tata mulls buy-out

05.08.2020

AirAsia India shareholders Tata Sons and AirAsia Group have agreed to inject INR3 billion rupees (USD40 million) into the low-cost carrier through optionally convertible debentures as talks progress over ownership changes, The Economic Times has reported.

While AirAsia Group has never confirmed these talks, it is reportedly open to selling its 49% stake in the Indian venture to Tata Sons. Given the slump in the carrier's financial situation, already precarious before the pandemic, the Malaysian group has lowered its expected price to just USD50 million.

The LCC reportedly needs further recapitalisation but AirAsia Group, itself in a tough financial predicament, is unable to bankroll the Indian unit any more.

Tata Sons, one of India's largest multi-industry conglomerates, is eager to conclude talks about the future of AirAsia India as soon as possible, before the August 31 deadline for bids in the ongoing privatisation of Air India, Business Standard added. Tata Sons is the frontrunner for the acquisition of the flag carrier but would likely partner with financial investors, who, in turn, would prefer to have clarity about the future of Tata's other airlines in India.

AirAsia India currently operates thirty A320-200s, the ch-aviation fleets advanced module shows.

Tata Sons has also agreed with its joint venture partner Singapore Airlines Group to recapitalise full-service carrier Vistara. The two shareholders will together inject INR750 million (USD10 million) through fresh equity shares.

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PostPosted: Wed Aug 05, 2020 7:43 pm    Post subject: Reply with quote

How many airlines can Tata operate. Vistara, Air Asia and now bidding for Air India. That is one too many. It needs to do something about Air Asia, buy the shares from the Malaysian group for a low price and merge with Vistara or just let it go and shut down.

I still think Tata will not offer a good price for Air India, then what will GoI do. The GoI should rethink this bidding now, and postpone it further.
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