New Delhi: 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.
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