AirAsia India names Mittu Chandilya as managing director
Chandilya has been appointed MD in addition to his role as CEO
Low-fare airline AirAsia India has named Mittu Chandilya as managing director (MD) of the airline in addition to his role as chief executive officer.
AirAsia India board appointed Chandilya as MD and the first full-time independent executive director of the company.
Chandilya’s appointment follows the decision of Tata Sons Ltd to raise its stake in AirAsia India to 41.06% from the current 30% earlier this month.
AirAsia India is a joint venture in which currently AirAsia Bhd holds a 49% stake, Tata Sons 30% and Arun Bhatia of Telestra Tradeplace Pvt. Ltd the rest.
“We are in the process of subscribing to the capital of AirAsia India which will take up our stake to 41.06% from the current 30%,” said the Tata Sons spokesperson had said on 14 August.
Tata Sons is the promoter of major operating companies of the Tata group and holds significant shareholdings in these companies.
S. Ramadorai, chairman of AirAsia India, said Chandilya has managed to propel the airline forward in terms of its scale of operations and turn every challenge into an opportunity by building an agile and secure operations structure.
“I am confident that as a young and dynamic group leader, he will work with his team to give every Indian, an opportunity to fly the Indian skies,” Ramadorai said.
Tony Fernandes, group chief executive officer of AirAsia said Chandilya has done an exemplary job leading AirAsia India in a market where AirAsia India has been challenged with headwinds at every turn.
“There is tremendous opportunity for growth and we are in an excellent position to capitalize on the opportunity with our strong brand and value proposition. We are not ones to give up easily and I know Mittu (Chandilya) will continue to lead the charge as we move full steam ahead in achieving our dream of changing Indian aviation,” Fernandes said.
Chandilya made history when he became a chief executive officer at 32, the youngest one of a scheduled airline in India and one where he was the first employee in a clean-sheet start up.
AirAsia India started its operations on 12 June 2014 with an Airbus A320. In just about a year, the airline has grown to a fleet of five aircraft with 10 destinations in India, and hit the one-million-passengers-flown mark recently.
Editor's Picks »
- Compensation hiked for patients of J&J faulty hip implants
- Opinion | When will India’s war on air pollution finally begin?
- Small businesses facing liquidity crunch seek cheaper funds, leniency on bad loans
- 3 killed, 10 hurt in Amritsar grenade attack
- Now, Gujarat’s Getco opposes ArcelorMittal’s Essar Steel bid
- 5 issues that’ll dominate RBI board meeting tomorrow
- Future Retail’s Q2 result shows improvement in same-store sales
- Private insurance firms grow at the expense of LIC stuck with a sick bank
- Page Industries’s lofty valuations get a reality check in Q2
- Q2 results: Grasim’s Vodafone Idea stake is proving costly