Press Esc to close
Friday 30 September 2016
News updated at 6:53 PM IST
Weather
Max: 29.4°C
Min : 21.4°C
In Bengaluru
Generally cloudy

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
all-party meeting in New Delhi on Thursday following Indian army's surgical strikes along the LoC...

all-party meeting in New Delhi on Thursday following Indian army's surgical strikes along the LoC...

People celebrate after Indian army's Surgical strikes along the Line of Control...

People celebrate after Indian army's Surgical strikes along the Line of Control...

Artists practice the Garba dance ahead of the Navratri festival in Ahmedabad...

Artists practice the Garba dance ahead of the Navratri festival in Ahmedabad...

Virat Kohli and Gautam Gambhir at a training session at Eden Garden in Kolkata...

Virat Kohli and Gautam Gambhir at a training session at Eden Garden in Kolkata...

Olympic medal winner wrestler Sakshi Malik at the launch of Datsun redi-GO sport in New Delhi...

Olympic medal winner wrestler Sakshi Malik at the launch of Datsun redi-GO sport in New Delhi...

Around 150 students of CMR National Public School form a heart shape on World Heart Day...

Around 150 students of CMR National Public School form a heart shape on World Heart Day...

Baloch Leader Dilshad Mazdak Baloch during a protest against Pakistan in New Delhi...

Baloch Leader Dilshad Mazdak Baloch during a protest against Pakistan in New Delhi...

A Lord's like bell installed at Eden Garden in Kolkata on Thursday...

A Lord's like bell installed at Eden Garden in Kolkata on Thursday...

A leopord in Surat Zoo, Gujarat on Thursday....

A leopord in Surat Zoo, Gujarat on Thursday....

Vice President M. Hamid Ansari and Salma Ansari arrive at Murtala Muhammed International Airport...

Vice President M. Hamid Ansari and Salma Ansari arrive at Murtala Muhammed International Airport...

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