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.
NEW DELHI — The Indian government has initiated actions to scrap its contract for AW101 helicopters with scandal-plagued Finmeccanica subsidiary AgustaWestland. “We have issued a formal show-cause notice to AgustaWestland seeking cancellation of contract and taking other actions as per the terms of the contract and the integrity pact, signed in 2010,” an Indian defense ministry official says.
