AirAsia and Tata Group join hands for an economical airline
AirAsia: Malaysia’s no-frills carrier
AirAsia has applied to the Foreign Investment Promotion Board (FIPB) to join hands with the Tata Group Arun Bhatia’s Telestra Tradeplace to enter the aviation sector.
Stakes in the Joint-Venture:
- AirAsia: 49%
- Tata Sons Ltd.: 30%
- Hindustan Aviation: 21
- If the proposal is approved by the FIPB, then the Director General of Civil Aviation (DGCA) will be approached for a permit to commence operations.
- Tata Sons will not have any operating role in the airline.
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Month: Current Affairs - February, 2013