Latest News
-
Top 5 Bank Savings Accounts With No Hidden Charges; Check Details? -
150% Gains In 12 Months: This Multibagger Telecom Stock Hits 52-Week High; IIFL Finance Recommends BUY! -
Singapore Orders Recall Of Everest Fish Curry Masala Over Pesticide -
China's Sinking Cities: Researchers Warn Of A Looming Threat, Say Half Of Major Cities Are Drowning -
Inox Wind Secures Repeat 210 MW Order From Hero Future Energies -
100 Grams Of 22K Gold Dearer By Rs 5000 In India: Check Yellow Metal Prices After Latest Rise -
Google Maps Likely To Let EV Drivers Locate Charging Stations Around Them; Here's How One Can Use It! -
Gold Prices In Dubai Shines Amid Middle East Tensions; But, What Will Happen If The Iran-Israel War Eases? -
India’s Macro Economic Outlook: A CFO's Viewpoint -
112% Returns In 1 Year: Bajaj Auto Shares Slump Despite Strong Q4 Earnings; Net Profit Surges 35%
FIPB approves AirAsia's India investment plans
"AirAsia's proposal has been cleared. It is as per the policy (which allows) up to 49 per cent FDI. Rs 80 crore is initial investment," a senior government official said.
The Foreign Investment Promotion Board (FIPB), headed by DEA Secretary Arvind Mayaram, approved the proposal at its meeting here.
AirAsia has applied to FIPB to take 49 per cent in a venture with Tata Sons Ltd and Arun Bhatia's Telestra Tradeplace Pvt Ltd.
The carrier will now have to approach the aviation regulator Directorate General of Civil Aviation (DGCA) for further clearances.
"AirAsia will now have to take necessary licence etc. From DGCA," the official added.
This would be the first entry of a foreign carrier in the domestic aviation sector after the liberalisation of FDI policy in September last year.
PTI
