Indian Govt Okays AirAsia-Tata Joint-Venture New Airline Bid

Air Asia

Report by Asobou Daimai, New Delhi: The Indian government body Foreign Investment Promotion Board (FIPB) on March 6 cleared the investment proposal of Tony Fernandes’s Malaysian low-cost airline AirAsia and Tata Group to set up a joint-venture new airline in India.


‘AirAsia's proposal has been cleared. It is as per the policy (which allows) up to 49 per cent FDI. Rs 80 crore is initial investment," a senior finance government official said. The propose airline would be operated as a joint venture between Tata Sons and AirAsia, with AirAsia holding 49% of the airline.