MUMBAI: AirAsia’s reported move to sell its 49% stake in its Indian venture will face legal hurdles as agencies probing corruption and money laundering charges against its founder Tony Fernandes and former brass of AirAsia India are set to oppose it.
Fernandes hinted at possible exit from its Indian joint venture with the Tata Group when he said in a Credit Suisse webinar that “we would never say that we would never exit India.”
A probe agency official, however, said the agency would oppose any such move. “Since this (the ongoing probe) is directly related to the airline, at this point we have to probe the shares before he is allowed to sell them. Fernandes will have to seek permission and even move court for the same,” the person said.
