Name of AirAsia’s Indian affiliate confirmed

11 Mar 2013 by ReggieHo
Malaysian low-cost carrier group AirAsia has formally registered the name of its Indian affiliate, AirAsia (India) Private Limited, with the country’s Ministry of Corporate Affairs, according to India-based Deccan Herald. The completion of this process is necessary before an application for incorporation can be filed. The new airline, to be based in Chennai, is a joint venture between AirAsia and Indian conglomerate Tatas, with the former owning 49 per cent of the stakes and the latter 30 per cent. The rest will be owned by Arun Bhatia of Telestra Tradeplace. In February, AirAsia announced its plan to start a new airline in India (see story) and earlier this month, the Foreign Investment Promotion Board (FIPB) of India approved the proposal. With the name formalised, AirAsia is now in the process of completing required documents and certificates and getting licenses from India’s Civil Aviation Ministry and Directorate General of Civil Aviation (DGCA). AirAsia is reportedly aiming to launch the new operation in May or June this year. Nino Lin  
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