AirAsia, Tata Sons to Form India Airline JV
Source : Wall street journal..
Let's hope this venture sees the light of the day
Kuala Lumpur — AirAsia Bhd 5099.KU -1.52%, the largest discount carrier in Southeast Asia by fleet size, said Wednesday it plans to partner Tata Sons Limited and Arun Bhatia of Telestra Tradeplace Pvt. Ltd to set up a low-cost airline in India.
The proposed joint venture comes after a September decision by the Indian government to open the aviation sector up to direct investment from foreign carriers. The three parties have signed an initial agreement and AirAsia has applied to the government to hold 49% of the proposed Indian joint venture.