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AirAsia open to acquiring stake in Indian carrier

18-Nov-2011 11:24 AM

AirAsia CEO Tony Fernandes has commented it is “critical” for India to further open up its aviation sector to foreign direct investment (FDI) (Business Standard, 17-Nov-2011). “I think capital needs to go into the airlines industry and regulation needs to change. There have been some sounds from the (Union) Minister of Commerce (Anand Sharma) on this," he said. Mr Fernandes said he would be open to acquiring a stake in an Indian carrier if the sector was opened up. "Yes, absolutely. I am of Indian descent, so my father would be very happy," he said.