Chennai: Air Asia India will soon be able to apply for an aviation licence from Director General of Civil Aviation (DGCA) as Foreign Investment Promotion Board on Thursday formally approved Malaysia-based Air Asia Berhad to make 49% investment into the Indian joint venture company partnering with Tata Sons Limited and Telestra Tradeplace Private Limited.
The DGCA licence will enable Air Asia India to operate as an Indian airline.
The joint venture plans to operate from Chennai and connect domestic Tier II and Tier III cities.
05/04/13 Ayyappan V/Times of India
