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India : “Only country in the world with a 5/20 rule”.

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Mumbai: A new rule called ‘5/20’ was implemented and a controversy has surged up, following it.

The ‘5/20’ rule as it is been called,  decrees that new airlines like Vistara and AirAsia India must fly local for a maximum of 5 years along with the necessary securing of at least 20 aircrafts, before setting their feet abroad.

Tony Fernandes, CEO and founder of AirAsia Group Bhd, tweeted on Saturday: “Quite crazy 5/20 hasn’t been solved. Are owners of Indian airlines living in India. Naresh (Goyal), NRI”.

This is believed to be the reaction to Ratan Tata’s favoring of the 5/20 rule.

To explain the situation further, Fernandes was signaling to Federation of Indian airlines – which represents IndiGo, Jet Airways, SpiceJet Ltd. And GoAir – allegation that Tata is favouring the rule following self-interest and ownership issues.

Vistara co-owned by Tata Sons is essentially controlled from Singapore. Whereas, it is also worth mentioning that Air Malaysia is the largest shareholder.

AirAsia India, India’s largest airline founded by a London-based NRI, Naresh Goyal, is a joint venture in which AirAsia Bhd holds 49%, Tata Sons Ltd. 41% and the rest by Arun Bhatia of Telestra Tradeplace Pvt. Ltd.

Under the Indian laws, a foreign company can own and invest up to 49% on any Indian airline, while an NRI can hold a full 100% share in an airline.

The Tata Sons refuted the allegations, claiming that the day-to-day operations and major decisions are taken by the board members, which comprises a wholesome part of Indian residents. And also that an essential share of the ownership rests with the Indian parties as per the Government’s requirement.

Whereas Fernandes replying to a tweet, said that he can see no reason why Malaysia should not be allowed to set up a joint venture with the Indian airlines. He also mentioned of an Indonesian airline that is already operating a Malaysian AOC (air operating certificate).

In a final tweet, Fernandes remarked: “People of India, your voice needs to be heard more. For too long, airlines have been controlled by a few. Mostly NRIs. Competition is needed”. (Input from agencies)

  • Daddy Luthra

    i don’t know whether to trust this article or not, the article states “AirAsia India, India’s largest airline founded by a London-based NRI, Naresh Goyal, is a joint venture in which AirAsia Bhd holds 49%, Tata Sons Ltd. 41% and the rest by Arun Bhatia of Telestra Tradeplace Pvt. Ltd.”; firstly naresh goyal is the founder of jet airways and not air asia india, secondly Air Asia India cant be called India’s largest airline with a fleet of 6 aircrafts and less than 10 destinations when Airlines like Indigo Operate with a fleet of over 100. These are just the basic facts about aviation in India i don’t know what you people are trying to portray.

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  • Daddy Luthra

    i don’t know whether to trust this article or not, the article states “AirAsia India, India’s largest airline founded by a London-based NRI, Naresh Goyal, is a joint venture in which AirAsia Bhd holds 49%, Tata Sons Ltd. 41% and the rest by Arun Bhatia of Telestra Tradeplace Pvt. Ltd.”; firstly naresh goyal is the founder of jet airways and not air asia india, secondly Air Asia India cant be called India’s largest airline with a fleet of 6 aircrafts and less than 10 destinations when Airlines like Indigo Operate with a fleet of over 100. These are just the basic facts about aviation in India i don’t know what you people are trying to portray.

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Sony Unveils its New Premium Compact Camera in India

The RX100 VII camera is currently available across all Sony Centers, Alpha Flagship stores, Sony authorised dealers and major electronic stores across India

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Sony
Sony to restructure its mobile division as well.

Sony India on Monday refreshed its premium compact camera — the RX series with the new RX100 VII in India for Rs 96,990.

The flagship point-and-shoot camera uses technologies developed for Sony’s full-frame mirrorless camera Alpha 9, thus, achieving new levels of performance in a compact camera, in both stills and movie shooting.

“The RX100 VII sets new standards for both photography and videography in a compact camera and we are confident that its phenomenal speed and AF capabilities will be very well received by customers,” Hiroyuki Tokuno, Head of Digital Imaging Division, Sony India, said in a statement.

Sony Pictures, North Korean, Computer
Pedestrians walk past an exterior wall of Sony Pictures Studios in Los Angeles, California, Dec. 4, 2014. That year, Sony became the victim of a cyber hack by North Korean operatives from the Lazarus Group. VOA

“Users will feel the reassurance that they have the power of an Alpha 9 in their pocket, in compact form, so they can trust this camera in any given situation,” added Tokuno.

Also Read: Social Media Giant Facebook to Bring New Tools to Protect 2020 US Elections

The RX100 VII camera is currently available across all Sony Centers, Alpha Flagship stores, Sony authorised dealers and major electronic stores across India. (IANS)