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India Approves AirAsia Bhd's JV with Tata Sons Ltd-Reuters
Reuters reported that AirAsia Bhd proposal to set up an airline jointly with the Tata group was approved by the Indian government's foreign investment regulator. AirAsia plans to launch a regional airline in India with an initial investment of INR800 million ($15 million). AirAsia, through its investment arm, will own 49% of the new airline, with Tata Sons Ltd the holding company of Tata group, owning 30%, Arun Bhatia, who owns Telestra Tradeplace, an investment firm, will hold the remainder.
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