“I think we have been smart. We have been cautious and built it slowly.”

Being in the aviation sector in India was not a sprint but a double marathon, he told the Press Trust of India (PTI) on the sidelines of the Farnborough International Airshow in the UK last week. “The Modi Government has to be brave in going all the way and getting rid of vested interests and protectionism.”

He cautioned New Delhi against protecting airlines and instead advised it to get more traffic rights and bring more tourists to India and to create more jobs.

While criticising the Indian Government for caving in to domestic pressures, he had bouquets for it’s new civil aviation policy which scrapped the main restrictions facing investors. “I am not going to storm in like a bull in a China shop like Vijay Mallya did, and get caught.”

Now, he added, the country has a civil aviation policy and it was very clear on what the stakeholders had to do. “So, talk to us in a few years time.”

It’s hard to do business in India, reiterated Fernandes. “There are so many vested interests who were trying to keep some of the incumbents happy.”

The only thing going for AirAsia in India was New Delhi’s decision to scrap the 5/20 ruling i.e. airlines in India had to be in the business for at least five years and have at least 20 aircraft before they fly overseas routes.

AirAsia has a 49 per cent stake in its joint-venture in India with Tata & Sons and a small shareholder.