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 Finance Ministry cleared the investment proposal of Malaysian budget carrier AirAsia which seeks to enter India through a joint venture with Tata Sons Group and Arun Bhatia's Telestra Tradeplace Pvt Ltd.
AirAsia will now have to take necessary licence etc. from DGCA
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