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AirAsia-Tata group JV gets govt nod
Last updated on: March 26, 2013 20:03 IST
India on Tuesday cleared Malaysian budget carrier AirAsia's proposal to start a passenger airline in the country in partnership with the Tata Group with an investment of Rs 81 crore.
The proposal was cleared by the Foreign Investment Promotion Board, Finance Ministry said in a statement.
AirAsia recently said it would set up a 49:30:21 joint venture with the Tata Sons and Telestra Tradeplace of Indian investor Arun Bhatia to launch a new Indian airline.
Source: ANI