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