AirAsia India co-founder selling stake – TravelMole true

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AirAsia India co-founder selling stake

Saturday, 30 Mar, 2016 0
Businessman Arun Bhatia, one of three co-founders of AirAsia India, is pulling out and selling his near 10% stake in the airline.
The carrier began as a joint venture nearly two years ago between Tata Sons, Malaysia’s AirAsia Group and Bhatia’s company Telestra Tradeplace.
Tata Sons will buy 7.94% of Bhatia’s 9.94% shareholding while AirAsia India chairman S. Ramadorai and director R. Venkataramanan will purchase the remaining 2%.
Bhatia had a stormy relationship with the other joint venture partners and accused AirAsia Group of exerting too much influence from Malaysia.
Once the deal is complete Tata Sons and AirAsia will have an equal 49% stake in the airline.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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