New Delhi, India (4E) – The Indian government has approved the call by Malaysian budget carrier, AirAsia, to set up an airline inside Asia’s 3rd biggest economy, according to newest reports from India.
Economic Affairs secretary Arvind Mayaram mentioned which the program has received the approval throughout a meeting of the country’s Foreign Investment Promotion Board (FIPB), that is a panel of officials which study foreign investment proposals.
The AirAsia India, that will be based inside Chennai inside South India, mentioned the joint venture was produced from partnership between your Malaysian carrier plus Tata Group. AirAsia absolutely flies into main Indian urban destinations like Chennai, Kochi plus Bangalore.
The joint venture came following the Indian government’s choice to permit investment of about 49 per cent by foreign carriers.
AirAsia, together with India’s Tata Sons plus Arun Bhatia of Telestra Tradeplace, announced last month it has forged with its couples an initial agreement to set up a budget airline inside India. The joint venture saw AirAsia taking 49 per cent control, 25 per cent from Tata as well as the rest to Mr. Bhatia.
After the Foreign Investment Promotion Board’s approval, the country’s financial matters minister mentioned which AirAsia’s upcoming task is to secure needed licences from India’s aviation regulators.
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