Malaysia’s Air Asia has plans to launch operations in India as early as this year. The airline is pro-actively trying to complete bureaucracy related formalities so that it can begin operations in smaller towns and cities with an Airbus fleet.
After getting a formal approval from the Foreign Investment Promotion Board (FIPB) to set up an airline in the domestic market, the airline is learnt to have submitted an application to launch low cost airline in India along with Tata Sons and Telestra Tradeplace in a 49:30:21 partnership.
Earlier, there was a talk that the aviation ministry had disapproved AirAsia's India entry on grounds that Tata Sons should have first set up an airline company, obtained a flying permit and then should have offloaded stake to it. But later, the foreign investment proposal panel okayed the venture.
26/04/13 Moneycontrol.com
