New Delhi: The Foreign Investment and Promotion Board (FIPB) on Tuesday approved AirAsia’s plans to enter Indian skies, according to a Finance Ministry statement.
The Malaysian budget carrier has plans of starting a new passenger airline in partnership with Tata Sons and Arun Bhatia’s Telestra Tradeplace Pvt Ltd.
Malaysia’s largest budget carrier had proposed to induct Rs 80.98 crore to start the airline that would have a 49:30:21 joint venture with the Tata Group company and Telestra Tradeplace.
Union Civil Aviation Minister Ajit Singh said that AirAsia hasn’t yet approached the ministry. “No, they have not submitted any application as yet. There are some concerns, some procedural issues with regard to the proposed airline. We will look into it quickly. But all that will depend on how fast they provide us the information regarding safety, aircraft, pilots and airworthiness of aircraft.
27/03/13 New Indian Express
