AirAsia India appoints Deepak Mahendra as CFO
On the 7th of February, AirAsia India appointed Tata group‘s, an Indian multinational conglomerate holding company’s, veteran Deepak Mahendra as its new chief financial officer with immediate effect.
Since 2008, Mahendra was a chief of corporate finance and accounts at Tata Power. Overall, he has over three decades of experience in different organisations.
Mahendra replaces Ankur Khanna, who resigned in January 2017, after the Enforcement Directorate (ED) probed the airline’s financial acts. A case against AirAsia India Pvt. Ltd on violating the Foreign Exchange Management Act (FEMA) has been registered for alleged fraudulent transactions of Rs 22 Cr (nearly $33 million).
Apart the heads of flight operations, operations control, HR, cabin crew, security, group operations and corporate quality, AirAsia India has lost or replaced about ten top executives, including the first chief executive Mittu Chandilya, chief financial officer Vijay Gopalan and commercial director Gaurav Rathore, in the last two years of operations.
There are four shareholders of the AirAsia India airline‘s - Tata Sons holds 49%, AirAsia Investment Limited – 49%, S. Ramadorai, chairman of the airline, holds 0,5% and R. Venkataramanan, the managing trustee of Tata Trusts, owns 1,5% of the share.
AirAsia India possesses its two hubs in Bengaluru and New Delhi and currently flies to 11 destinations. Starting from the middle of February, the airline will start flying to Srinagar and Bagdogra.