Arun Bhatia to hold 21% in new aviation joint venture
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Arun Bhatia, the owner, of Telestra Tradeplace will be the 21 per cent shareholder behind the AirAsia Investments and Tata Sons in the new entity in the Indian skies. A statement issued by Hindustan Aerospace, one of his group companies, said, "The deal emerged through our family's close relationship and alignment of visions with Tony Fernandes, the founder of AirAsia who serves on the Board of Directors of Queen's Park Rangers alongside Amit Bhatia ( son of Arun)". Amit is incidentally the son-in-law of LN Mittal. The statement also said Telestra will be purely a financial investor with non-executive representation on the board.
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