The return of Tata

As reported here in December 2012, Tony Fernandez’s AirAsia and Tata Sons have come to an agreement to form a JV, bringing the Tata family back into the airline sector for the first time since 1953 when Tata Airlines was nationalised to form Air India. Today we also find out that the Bhatia family is involved in the JV via their Telestra Tradeplace investment vehicle giving direct links to the Mittal family. AirAsia will have a 49% stake, Tata Sons 30% and Telestra Tradeplace 21%. The new airline, to be headquartered at Chennai, will start operations in the last calendar