SME Times is powered by   
Search News
Just in:   • GST hurdles  • Profit booking, global cues drag equity markets lower  • Bosch India offers smart solutions for diverse sectors  • Facebook Messenger now supports PayPal payments  • Idea cellular net profit down by 88 pc 
Last updated: 27 Sep, 2014  

Air.thmb.jpg AirAsia gets Indian govt's nod to start new airline

Air Aeroplane
   Top Stories
» Sagarmala: Revolutionizing logistics through port led dvpt
» 'Majority of Indians working in SMEs aspire to be an entrepreneur'
» Tata Sons unexpectedly replaces Cyrus Mistry as chairman
» Govt committed to upgrading tax payer services: Jaitley
» Creating vibrant arbitration ecosystem our priority: PM
SME Times News Bureau | 06 Mar, 2013
Malaysian budget carrier AirAsia Wednesday received regulatory approvals from the Foreign Investment Promotion Board (FIPB) for starting a new airline venture in the Indian civil aviation sector with partners like the Tata Group and Arun Bhatia promoted Telestra Tradeplace.

"The good always win. People and companies with good intentions to create jobs and make life of the average man better will always win," an elated Tony Fernandes, Air Asia's Indian origin founder and chief executive, tweeted.

"Thank you all. AirAsia - Tata India airline proposal gets government nod."

In its proposal sent to the FIPB last month, the company had said that it intends to hold 49 percent stake in the venture, which will include industrial conglomerate Tata Group and Telestra Tradeplace.

The Malaysian budget carrier intends to invest anywhere between $30 million to $60 million in the airline venture.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 65.55 63.35
As on 25 Oct, 2016
  Daily Poll
GST will benefit small and medium enterprises (SMEs)
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(11)
» Govt schemes - are they reaching SMEs(3)
» Rs 2,000-cr credit guarantee fund for start-ups soon(2)
» BRICS must now walk the talk(2)
» PM Modi concludes BRICS summit, calls it a success(2)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter