AirAsia, Tata Sons amend pact to give more say to India firm

MUMBAI (Dec 26): Tata Sons and AirAsia Bhd agreed to amend a brand licensing agreement to give greater control to the local partner, Business Standard reports citing unnamed sources.

* Both firms are finalizing the revised agreement

* A draft agreement submitted to the Indian civil aviation ministry shows sales and distribution, revenue management, network planning, finance, engineering and leasing contracts are some of the functions that will be decided upon by AirAsia India, according to the newspaper

* The existing agreement required approval from the Malaysian firm

* Indian government had asked Tata Sons for this amendment, if the airline wanted to fly overseas routes. This is to ensure operations were being handled from India