Press Esc to close
Friday 01 August 2014
News updated at 8:47 AM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

AirAsia gets Indian government's nod to start new airline

New Delhi/Kuala Lumpur, March 6, 2013, (IANS):
File photo.

Malaysian budget carrier AirAsia Wednesday received regulatory approvals from  the Foreign Investment Promotion Board (FIPB) for starting a new airline venture in the Indian civil aviation sector with partners like the Tata Group and Arun Bhatia promoted Telestra Tradeplace.

"The good always win. People and companies with good intentions to create jobs and make life of the average man better will always win," an elated Tony Fernandes, Air Asia's Indian origin founder and chief executive, tweeted.

"Thank you all. AirAsia - Tata India airline proposal gets government nod."


In its proposal sent to the FIPB last month, the company had said that it intends to hold 49 percent stake in the venture, which will include industrial conglomerate Tata Group and Telestra Tradeplace.

The Malaysian budget carrier intends to invest anywhere between $30 million to $60 million in the airline venture.

Go to Top

Photo Gallery
An man holds a cycle and wades through a flooded street as it rains in Mumbai. Heavy rainfall...

An man holds a cycle and wades through a flooded street as it rains in Mumbai. Heavy rainfall...

A traditional Teej procession at Tripolia Gate in Jaipur on Thursday...

A traditional Teej procession at Tripolia Gate in Jaipur on Thursday...

Gold medal winner Vikas Shive Gowda of India throws the discus in the final at Hampden Park...

Gold medal winner Vikas Shive Gowda of India throws the discus in the final at Hampden Park...

South Africa's Rhett Halkett, right, vies for the ball with India's Chandanda Nikkin, during...

South Africa's Rhett Halkett, right, vies for the ball with India's Chandanda Nikkin, during...

Arvind Panwar makes his way towards the finish line in the Men's Time Trial during...

Arvind Panwar makes his way towards the finish line in the Men's Time Trial during...

Dipa Karmakar of India performs during the women's gymnastics vault apparatus final at the 2014...

Dipa Karmakar of India performs during the women's gymnastics vault apparatus final at the 2014...

Babita Kumari wrestles with Canada's Brittanee Laverdure during the women's Freestyle...

Babita Kumari wrestles with Canada's Brittanee Laverdure during the women's Freestyle...

People at waterlogged Shivaji Chowk, Bhiwandi after heavy rains near Mumbai on Thursday...

People at waterlogged Shivaji Chowk, Bhiwandi after heavy rains near Mumbai on Thursday...

NDRF personnel with a body of a victim of landslide at Malin village on Thursday...

NDRF personnel with a body of a victim of landslide at Malin village on Thursday...

A crack seen on the highway caused by the erosion due to heavy rains at Kasara Ghat...

A crack seen on the highway caused by the erosion due to heavy rains at Kasara Ghat...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523