PETALING JAYA: AirAsia Bhd has received formal approval from the Foreign Investment Promotion Board for AirAsia Investment Ltd to invest up to 49% in an Indian joint-venture company.
AirAsia said the company’s prospective partners in the joint venture, Tata Sons Ltd and Telestra Tradeplace Pvt Ltd, had incorporated a joint-venture vehicle AirAsia (India) Pvt Ltd with an initial paid-up capital of five lakhs (RM28,520) on March 28.
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