New Delhi: Government today said it has cleared Malaysian budget carrier AirAsia's proposal to start a passenger airline in India in partnership with the Tata Group with an investment of Rs 81 crore.
The proposal was cleared by the Foreign Investment Promotion Board (FIPB), Finance Ministry said in a statement.
AirAsia recently said it would set up a 49:30:21 joint venture with the Tata Sons and Telestra Tradeplace of Indian investor Arun Bhatia to launch a new Indian airline.
Asked whether AirAsia and Tatas have approached his Ministry, Civil Aviation Minister Ajit Singh today said: "No, they have not submitted any application as yet."
To further questions, he said there were "some concerns ... some procedural issues" with regard to the proposed airline.
26/03/13 Indian Express
