Press Esc to close
Sunday 21 December 2014
News updated at 2:16 AM IST
Weather
Max: 28°C
Min : 17.6°C
In Bengaluru
Partially cloudy

AirAsia gets formal approval from FIPB

Mumbai, April 6, 2013, PTI:

AirAsia on Friday said it has received formal approval from the Foreign Investment Promotion Board (FIPB) to launch an airline in the country in association with the Tatas, paving the way for the companies to move the sectoral regulator DGCA for an air operator licence.

"The application made by AirAsia through its investment arm, AirAsia Investment, to the Foreign Investment Promotion Board seeking approval for a 49 per cent investment into a joint venture company named AirAsia India, partnering Tata Sons and Arun Bathia of Telestra Tradeplace, has been granted a formal approval on April 4," the Malaysian carrier said in a statement. AirAsia, the largest low-cost airline in Asia, announced the JV with Tatas late February. Last month FIPB had approved the proposal.

"This approval will enable AirAsia India to apply with the Directorate General of Civil Aviation for the aviation licence to operate as an airline," the statement added.
The proposed airline would operate from Chennai and would be focused on providing connectivity to small towns.

Currently, AirAsia operates in Thailand and Malaysia and already connects Chennai, Bangalore, Thiruchirapalli, Kochi and Kolkata to Asean and beyond.


Go to Top

Photo Gallery
Christmas tree ornaments are displayed for customers at the Christmas ...

Christmas tree ornaments are displayed for customers at the Christmas ...

A cyclist takes a ride along the bike path off Truxtun Extension...

A cyclist takes a ride along the bike path off Truxtun Extension...

A participant during the Kambala, a traditional buffalo race...

A participant during the Kambala, a traditional buffalo race...

A large gathering at Virat Hindu Sammelan, organised by VHP...

A large gathering at Virat Hindu Sammelan, organised by VHP...

India's Ishant Sharma, center, celebrates with his teammates after he got the wicket...

India's Ishant Sharma, center, celebrates with his teammates after he got the wicket...

India's Umesh Yadav plays a shot during their play on day four of the second cricket test...

India's Umesh Yadav plays a shot during their play on day four of the second cricket test...

Australia's David Warner dives over the boundary rope trying to take a catch during their ...

Australia's David Warner dives over the boundary rope trying to take a catch during their ...

Indian American Richard Verma sworn-in as US Ambassador to India

Indian American Richard Verma sworn-in as US Ambassador to India

People takes protection against cold with woollens...

People takes protection against cold with woollens...

helicopter following a crash during the men's World Cup Downhill skiing...

helicopter following a crash during the men's World Cup Downhill skiing...

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