Wednesday, July 03, 2013

AirAsia hits back at Swamy for calling the deal fraudulent

AirAsia CEO Tony Fernandes has hit back at Janata Party chief Subramanian Swamy for calling his company's deal with the Tata group for a new airline "fraudulent". Responding to Swamy's allegation, Fernandes said that the Indian aviation industry is missing great opportunities due to vested interests.
"I don't want to get into it. People have suffered because of bizarre rules. Some people have vested interest. India lost many years because of vested interest which is shameful. Other Asian markets have grown and are much ahead. There are too many people who have vested interests and they do not think about what India needs," said Fernandes.
Swamy, who had been vocal about his criticism of the Jet-Etihad deal, on Tuesday, had written a letter to Prime Minister Manmohan Singh on the AirAsia-Tata deal alleging corruption in the new venture.
"It is the duty of the Opposition to bring the corruption to public records. The Foreign Investment Promotion Board (FIPB) would have cleared the project, had I not written that letter," Swamy said.
03/07/13 IBNLive.com/moneycontrol.com