Aviation Ministry will clear AirAsia-Tata venture soon: Ajit Singh London: Putting an end to all questions on the AirAsia deal, Civil Aviation Minister Ajit Singh said the matter has now been resolved and his Ministry will provide the all necessary clearances. “The company has applied for no objection certificate (NOC). And AirAsia Director’s name has been sent for security clearances by the Aviation Ministry,” Singh told Business Line. The Minister said that the Aviation Ministry will give clearance to AirAsia-Tata venture after the security formalities are done. The company had earlier indicated that it hoped to begin operations by September. The Tata group along with a Delhi-based investor has joined hands with Malaysia-based AirAsia, promoted by Tony Fernandes, to start a scheduled airline in India. The application for the venture was submitted after the Government tweaked the norms for foreign direct investment in the aviation sector. Now, foreign airlines have been permitted to acquire up to 49 per cent equity in domestic airlines. 10/06/13 Shishir Sinha/Business Line
Posted on: Tue, 11 Jun 2013 19:45:27 +0000
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