The Union Civil Aviation Ministry last week realised that the promoters of the new airline AirAsia India has not provided names and nationalities of the Chairman, Chief Operating Officer, Chief Executive Officer and Chief Financial Officer of the proposed airline. The Ministry has received application from AirAsia for obtaining an initial No-Objection Certificate. AirAsia plans to set up its Indian unit in partnership with Tata Sons and Telestra Tradeplace
The Ministry’s official said that they need details of people who will be appointed to these top posts in the new proposed airline. The CEO, COO and CFO will need to get a security clearance from the Ministry of Home Affairs. Among other key senior functionaries, if anyone is a foreign national, he will also need this security clearance. The Indian government needs details of the top management, the official said.
The promoters have said that the airline will have an initial capital of a little above Rs 50 crore. Rs 50 crore is the minimum capital a new airline must have. It will have a fleet of five aircraft of the Airbus 320 family in the first year of operation and 36 aircraft over a period of five years.
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