FIPB approves AirAsia-Tata Group JV

Malaysia's AirAsia, the largest budget carrier in Asia, plans to launch a regional airline in India with an initial investment of Rs 80 crore

hidden March 26, 2013 14:06:50 IST
FIPB approves AirAsia-Tata Group JV

New Delhi: AirAsia's proposal to set up a joint venture for running a passenger airline with the Tata Group has been approved by India's Foreign Investment Promotion Board (FIPB), a government statement said on Tuesday.

FIPB approves AirAsiaTata Group JV

AirAsia's proposal was cleared at a meeting on March 6, officials had said. Reuters

Malaysia's AirAsia, the largest budget carrier in Asia, plans to launch a regional airline in India with an initial investment of Rs 80 crore to cash in on rising demand for domestic air travel among India's expanding middle class.

AirAsia's proposal was cleared at a meeting on March 6, officials had said.

Reuters

Updated Date:

Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply

also read

DGCA extends suspension of international passenger flights till 31 March
India

DGCA extends suspension of international passenger flights till 31 March

The restriction will not apply to cargo flights and flights specifically approved by the aviation regulator

Johnson & Johnson's single-dose COVID-19 vaccine safe and effective, says FDA paving way for approval
World

Johnson & Johnson's single-dose COVID-19 vaccine safe and effective, says FDA paving way for approval

The vaccine was 66.1% effective in preventing moderate to severe disease and appeared safe, the US Food and Drug Administration said on Wednesday

Ratan Tata pays tribute to Tata Group founder JN Tata on birth anniversary, shares picture with mentor
India

Ratan Tata pays tribute to Tata Group founder JN Tata on birth anniversary, shares picture with mentor

The 83-year-old Ratan Tata wrote how Jamsetji Nusserwanji Tata had inspired them all with his “empathy and kindness over the years"