Press Esc to close
Wednesday 22 October 2014
News updated at 2:50 AM IST
Weather
Max: 25.4°C
Min : 20.2°C
In Bangalore
Sunny day

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
A major fire that broke out in the crackers market in Faridabad...

A major fire that broke out in the crackers market in Faridabad...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Woman buying earthen lamps at a market ahead of the Diwali festival...

Woman buying earthen lamps at a market ahead of the Diwali festival...

School children paint their faces during Diwali celebrations...

School children paint their faces during Diwali celebrations...

A huge rangoli in front of Swaminarayan Temple...

A huge rangoli in front of Swaminarayan Temple...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

TRS activists set affire chairs at the TDP office in Nalgonda...

TRS activists set affire chairs at the TDP office in Nalgonda...

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