However, a key deterrent to more investment is often-unpredictable tax treatment of foreign companies in India.
Besides being a sharp dresser and having an impeccable sense of fashion, does Mittu really have it in him to run an ultra low-cost airline in a difficult cost environment which India provides?
The newly formed AirAsia India, the Indian arm of Malaysia's low cost carrier AirAsia, has filed an application with the Civil Aviation Ministry seeking permission to launch its operations, official sources said here today.
As the Malaysian low-cost carrier looks to kick start its operations in India from September, its recruitment drive got a thumping response.
AirAsia's Indian dreams could take wing soon, with the airline preparing to apply for what is known as an "initial NoC" to the Ministry of Civil Aviation
The Malaysian carrier, which is launching an airline in India in partnership with the Tatas, today announced 'zero rupee' fares to Indian cities on international routes within Asia.
The government today approved 6 FDI proposals, including that of AirAsia Investment, Malaysia, totalling over Rs 732 crore.
The rivalry between Southeast Asia's main airlines intensified when Lion Air launched its first service in Malaysia, barging onto AirAsia's home turf, but the pace of expansion has raised questions about whether airlines are overextending themselves.
Minister Ajit Singh initially said he would have preferred the Tatas to launch an airline on their own, then said he had no problem with the new airline proposal but there seem to be some procedural issues with it.
The message is clear: AirAsia will perhaps be in direct competition with IndiGo and SpiceJet for fares and this would be particularly true in the south Indian markets since AirAsia's base would be Chennai.
After Malaysia's Tony Fernandes' AirAsia, Singapore-based low-cost carrier Tiger Airways is exploring the possibility of a strategic partnership with an India-based airline for offering
According to the guidelines for foreign investment in the civil aviation sector, any foreign entity which invests in an Indian airline cannot have more than one-third representation on the airline's board of directors.
A day before the Foreign Investment Promotion Board (FIPB) is scheduled to take up the proposal by Malaysian airline AirAsia, fresh doubts are being raised over this project.
FDI came too late for Kingfisher. Jet Airways' Naresh Goyal too finds that his potential partner can now dictate terms to him. Is it curtains for him?
Malaysia based AirAsia, Asia's largest budget airline, has already moved the Foreign Investment Promotion Board (FIPB) for approvals to begin a budget airline in India. It won't raise debt and will operate under the Air Asia brand name.