AirAsia India appoints Tata Steel veteran Sunil Bhaskaran as new CEO; Board reshuffle expected soon

AirAsia India will have Sunil Bhaskaran as the new CEO and Managing Director and will take charge of the company with effect from November 15,

Bhaskaran will oversee the next phase of expansion and growth of the India business of the company. (Image: AFP)

New Delhi: Undergoing a vacuum of around 6 months, AirAsia India will have Sunil Bhaskaran as the new Chief Executive Officer (CEO) and Managing Director and will take charge of the company with effect from November 15, the budget air-carrier said in an official statement on Wednesday. He will oversee the next phase of expansion and growth of the India business of the company, the statement added. AirAsia India, jointly owned by Tata Sons and Air Asia Berhad, has been without a CEO for the past six months. It is also being said that the airline is planning to restructure its board with group CEO Tony Fernandes and deputy group CEO Bo Lingam stepping down. However, there has been no official announcement made in regards to the same. Both Tata Sons and AirAsia Berhad of Malaysia hold 49 per cent each in AirAsia India while chairman S Ramadorai and director R Venkataramanan hold 1.5 per cent and 0.5 per cent, respectively. It is being reported that Tata Sons plans to buy the stake of Ramadorai and Venkataramanan and take its stake to 51 per cent in the airline. Currently, Bhaskaran is the vice-president, Corporate Services at Tata Steel. He has more than three decades of experience in the areas of manufacturing, export and commercial operations with the Tata Group where he has held several positions. He is also on the Global Advisory Board of Social Accountability International (SAI), New York. He was with Tata International from 2001 till 2005. The airline was has witnessed an upside down journey over last few months after CBI raided its offices and investigated one of its board of directors over allegations of having influenced the government to change the norms for flying international routes. Earlier, the airline had filed a case with the police claiming that its former CEO, Mittu Chandilya, had misappropriated funds. AirAsia aims to expand its wings in Indian aviation market by providing affordable airfares and improved customer experience. The airline recently announced Navratri sale where flight tickets are available from Rs 999 for a limited period.