AirAsia Receives Formal Approval from India’s Foreign Investment Promotion Board

AirAsia Receives Formal Approval from India’s Foreign Investment Promotion Board

*Travel News Asia*	*Latest Travel News*	*Podcasts*	*Videos*	*Wednesday, 10 April 2013*

The application made by AirAsia Berhad through its investment arm, AirAsia Investment Ltd. (AAIL) to the Foreign Investment Promotion Board of India seeking approval for a 49% investment into an Indian joint venture company named AirAsia (India) Pvt Ltd., partnering Tata Sons Limited and Mr. Arun Bathia of Telestra Tradeplace Pvt. Ltd. was last week granted a formal approval.

This approval enables AirAsia (India) to apply with the Indian Directorate General of Civil Aviation for the aviation licence to operate as an Indian airline.

The joint venture plans to operate from Chennai, Tamil Nadu focused on providing domestic Tier II and Tier III city connectivity to Indian travelers.

Currently, AirAsia through its operations based in Thailand and Malaysia already connect Chennai, Bangalore, Thiruchirapalli, Kochi and Kolkata to Asean and beyond through its Group’s operations.

AirAsia, Tune Hotels, AirAsia X, India

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