FIPB approves AirAsia’s proposal for budget carrier JV

by Paul Joseph on March 7, 2013 · 0 comments

Malaysian carrier AirAsia’s proposal to set up a new low-cost airline in a joint venture (JV) with the Tata Sons and Telestra Tradeplace Ltd’s Arun Bhatia won approval from the Foreign Investment Promotion Board (FIPB) on Wednesday. A senior Finance Ministry official, who attended the meeting, confirmed that development saying that the government cleared the proposal as it was in line with the FDI policy, which allowed foreign investment of up to 49 per cent. read more

[via Stock Watch – Stock Specific News]

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