Directorate General of Civil Aviation (DGCA) on 7 May 2014 approved the flying license of AirAsia India Private Limited (AAIPL). AAIPL is a tripartite joint venture between Tata Sons, Air Asia and telestra Tradeplace.
AAIPL will be the first Greenfield airline with a foreign investor. It will be first flight out of Chennai. It will be flying to all metros excluding Mumbai.
However, this approval is subject to the judicial ruling. The high court is hearing a public interest litigation which claimed the venture is a violation of the FDI guidelines for the civil aviation sector. The case will be heard by a special bench on 11 July 2014.
The AirAsia India Pvt Ltd (AAIPL) will be India's seventh airline. The joint venture will start business by August 2014. The new low-cost carrier will offer 35% lower fares from current fare levels.
The airline marks the re-entry of the Tatas into airline business after several decades.
When: 7 May 2014