News

Investment Approval for AirAsia’s Indian Budget Airline

Investment Approval for AirAsia’s Indian Budget Airline

Malaysia-based AirAsia has been granted approval by India’s Foreign Investment Promotion Board to set up an Indian budget airline. This comes after the Indian government opened up the country’s aviation industry to foreign investors in September last year.

AirAsia Logo

AirAsia plans to run the new airline in partnership with Mumbai-based Tata and Indian investor Telestra Tradeplace. The new carrier would be based in Chennai in southern India and would be operated by AirAsia. Under the proposed deal, AirAsia would own 49% of the new airline, with the two Indian companies sharing the remaining stake.

AirAsia must now get the necessary licences from India’s aviation regulators. 
The airline already operates flights into Indian cities, including Bangalore, Kochi and Chennai.

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, editor and proofreader for 53 years, and ITTN's News & Features Editor for 43 years. His travel blog is at www.thetravelbuddhist.com.

More in News

Welcome to Spotlight: ITTN’s Focus on the Industry

Fionn DavenportFebruary 26, 2021

Discover Northern Ireland Celebrates Women in Tourism on International Women’s Day

Fionn DavenportFebruary 26, 2021

ITB Berlin NOW Convention: Rethinking Tourism

Fionn DavenportFebruary 26, 2021

Atlantis Aquaventure in DubaI Expands by a third

Michael FloodFebruary 26, 2021

Aer Lingus Lost €563m in 2020

Fionn DavenportFebruary 26, 2021

Amadeus to Distribute IAG Content via NDC Standard

Fionn DavenportFebruary 26, 2021

Irish Ghosts & Ghouls – A Live Webinar

Fionn DavenportFebruary 26, 2021

Aer Lingus Appoints New Chief Executive

Sharon JordanFebruary 26, 2021

Lufthansa To Launch New Frankfurt Service From Cork Airport For Summer 2021

Fionn DavenportFebruary 26, 2021

Copyright © 2021 ittn