The CBI had filed a case on May 6 2016 with the same allegations. Searches were conducted at several locations in Chennai/Madurai, the registered headquarters of the airline.
AirAsia India’s fleet—currently 18—has an average age of 8.4 years. The age has increased as it inducted 4 planes aged over 10 years, in 2018. At the end of 2017, the average age of its planes was lower: 7.7 years.
CBI has named Fernandes and other suspected aides in an FIR alleging criminal conspiracy with the government to change rules to get overseas flying rights
London’s Gatwick Airport, also a single runway airport, now stands a distant second with over 800 flight movements a day.
In a statement, the airline said he will be reporting to the Chairman Nusli Wadia Managing Director Jeh Wadia and the Board of Directors of GoAir.
Problems of the engines started with a slow startup time, lagging fanblade production and air system faults in February 2016.
In the coming days, Fernandes may need all the luck to overcome the twin problems — one at home in Malaysia and the other, fast-unravelling crisis in India.
The agency's office in Mumbai has been probing a separate case against the airline and its executives under the Foreign Exchange Management Act (FEMA).
The regulator also sought the views/recommendations of the statutory auditors.
ICRA downgraded all of Jet’s long term loans and non-convertible debentures to a BB+ (negative) rating from a BBB- (negative) or investment grade rating.
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