Malaysian low cost airlines AirAsia has apparently got the government of it joint venture with Tata’s from the Ministry of Corporate Affairs. The joint venture is now going to named as AirAsia (India) Private Ltd. The company got its name registered in the state of Maharashtra after which the Ministry of Corporate Affairs accepted it, according to a senior official.
The company is now completing all the necessary formalities required to get it incorporated in India, told the official. The filing of all these documents is also taking place at a fast paced speed. The initial investment made into the company is worth $14.5Mn (80 Crore Rupees) and going to compete with domestic airlines such as Jet Airways, Indigo, Spicejet, Go Air, Air India.
Source: NDTV Profit