AirAsia (AirAsia.com) (Malaysia) (Kuala Lumpur) and the Tata Group (Mumbai) have announced a new joint venture proposal. If approved by the Indian government the new JV would bring a new low-fare airline to India under the AirAsia brand based in Chennai.
According to this report by One India News the Indian Finance Ministry is due to take up the proposal before the Foreign Investment Promotion Board (FIPB) on March 6.
AirAsia has applied to control 49 percent in this new joint venture with Tata Sons Ltd and Arun Bhatia’s Telestra Tradeplace Pvt Ltd. If approved, this will be the return of Tata to the aviation business. State-owned Air India grew out of Tata Airlines, which began operations in 1932. Ironically Air India (Mumbai) and other Indian carriers are likely to oppose the entry of AirAsia.
Read the full report: CLICK HERE
Copyright Photo: Guillaume Besnard. AirAsia’s Airbus A320-216 9M-AFQ (msn 3018) in the special ZOOM! color scheme arrives at Bangkok.