AirAsia, one step closer to Indian carrier

 AirAsia is one step closer to extend its low-cost model into India, after receiving formal approval from the country’s Foreign Investment Promotion Board.

This approval enables the carrier to apply for an aviation license from the Indian Directorate General of Civil Aviation to operate as an Indian airline.

As part of the agreement, AirAsia will hold 49 percent stake in the venture, with the remaining ownership to be held by partners, Tata Sons Limited and Mr. Arun Bathia of Telestra Tradeplace Pvt. Ltd.

Hoping to replicate the “unprecedented success” of its other airlines, AirAsia said its low-cost structure will “tremendously benefit the Indian consumer”.

Sourced: etravelblackboardasia