Press Esc to close
Monday 27 June 2016
News updated at 9:06 AM IST
Weather
Max: 27.5°C
Min : 19.4°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
Bihar Chief Minister Nitish Kumar with RJD Chief Lalu Prasad during an Iftaar party in Patna...

Bihar Chief Minister Nitish Kumar with RJD Chief Lalu Prasad during an Iftaar party in Patna...

A sand sculpture created to congratulate Athlete Srabani Nanda for qualifying 200 mt race...

A sand sculpture created to congratulate Athlete Srabani Nanda for qualifying 200 mt race...

Players in action during a match between Bengaluru Bulls and Kolkata Warriors at Pro Kabaddi...

Players in action during a match between Bengaluru Bulls and Kolkata Warriors at Pro Kabaddi...

Illuminated Mysuru Palace seen on the eve of Yaduveera Krishnadatta Chamaraja Wadiyar...

Illuminated Mysuru Palace seen on the eve of Yaduveera Krishnadatta Chamaraja Wadiyar...

A man pushes his bike through a waterlogged road during rains in Jammu...

A man pushes his bike through a waterlogged road during rains in Jammu...

Narendra Modi interacts with Vaishali whose heart surgery was funded by the PMO...

Narendra Modi interacts with Vaishali whose heart surgery was funded by the PMO...

A Hindu devotee performs a stunt with fire during a rehearsal for the annual Rath Yatra...

A Hindu devotee performs a stunt with fire during a rehearsal for the annual Rath Yatra...

Mysuru Royal family scion Yaduveera Krishnadatta Chamaraja Wadiyar's wedding rituals, at Mysuru...

Mysuru Royal family scion Yaduveera Krishnadatta Chamaraja Wadiyar's wedding rituals, at Mysuru...

Sunny Leone at a press conference in Chennai...

Sunny Leone at a press conference in Chennai...

Senior police and CRPF officers carry the bodies of Central Reserve Police Force...

Senior police and CRPF officers carry the bodies of Central Reserve Police Force...

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