AirAsia- Asia’s leading airline was established with the dream of making flying possible for everyone. Since 2001, AirAsia has become the world’s best low cost Airlines. With a route network that spans through to over 20 countries, AirAsia continues to pave the way for low-cost aviation through innovative solutions, efficient processes and a passionate approach to business.
The airline is famous for keeping its planes almost continuously in air due to its efficiency in turning planes around at airports. Most full-service airlines take nearly an hour to exit an airport; Air Asia does it in half the time. Result is the frequency of a bus service. AirAsia flies up to 13 times each between Kuala Lumpur and Singapore and Bangkok and Phuket and eight times between Bangkok and Singapore.
Gearing up to launch services in India in partnership with Tatas, Malaysia-based low-cost airline AirAsia has got the Ministry of Corporate Affairs approval for the name of its Indian venture that is to be called AirAsia (India) Private Ltd. The company is now in the process of incorporating itself in India and completing other formalities of submitting the required documents and certificates with the Ministry.
The country’s foreign direct investment clearance body FIPB (Foreign Investment Promotion Board) has already approved investment in the new venture, wherein Malyasia-based AirAsia would hold 49 per cent stake, Tata Sons will have 30 per cent and 21 per cent stake would be owned by Arun Bhatia of Telestra Trade place. Being started with an initial investment of USD 14.5 million (about Rs 80 crore), AirAsia India would compete in the domestic passenger aviation space with the likes of JetAirways, Spicejet, IndiGo, Go Air and state-run Air India. As, the existing five carriers are far too few for a huge country like India and there is enough business for all to compete on many routes.
The airline needs to get a no-objection certificate from the Aviation Ministry and thereafter an air transport license from the DGCA (Directorate General of Civil Aviation) to be declared a scheduled airline. AirAsia India would also mark the re-entry of Tatas into the aviation space after about 60 years of JRD Tata-founded Air India being nationalized in 1953.