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India Approves AirAsia Bhd's JV with Tata Sons Ltd-Reuters


Wednesday, 6 Mar 2013 03:53am EST 

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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