AirAsia Group, Southeast Asia’s largest budget operator by fleet size, plans to start a low-cost airline in India through a partnership with local investors. Through its investment arm, AirAsia Investment Ltd., Air Asia has applied to the Foreign Investment Promotion Board (FIPB) in India for approval to invest 49% in a proposed joint venture with Tata and Arun Bhatia of Telestra Tradeplace, a senior government official says. “The joint-venture company will make an application to the ...

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