Asia’s largest low-cost airline AirAsia Bhd is planning to start an airline in India with the Tata Group Joint venture.
The airline has filed an application with India’s Foreign Investment Promotion Board (FIPB) for proposed joint venture with Tata Sons along with Arun Bhatia of Telestra Tradeplace. Once the FIPB approves the proposal, AirAsia will reportedly make an application for the air operator’s permit before the Indian aviation regulators.
The move comes months after the Indian government eased FDI rules in the aviation sector. Last September the UPA government had allowed 49 percent FDI in aviation sector thereby opening doors for foreign players to invest in India.
The airline has filed an application with India’s Foreign Investment Promotion Board (FIPB) for proposed joint venture with Tata Sons along with Arun Bhatia of Telestra Tradeplace. Once the FIPB approves the proposal, AirAsia will reportedly make an application for the air operator’s permit before the Indian aviation regulators.
The move comes months after the Indian government eased FDI rules in the aviation sector. Last September the UPA government had allowed 49 percent FDI in aviation sector thereby opening doors for foreign players to invest in India.
See more at: http://24by7news.com/homeslider/airasia-joins-hands-with-tata-to-start-airline-in-india/#.UTN9ujebQwo
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