AirAsia-Tata joint venture gets govt's nod to start new airline

March 6, 2013

AirAsia-Tata_joint

New Delhi, Mar 6: The finance ministry on Wednesday cleared the investment proposal of Malaysian budget carrier AirAsia which seeks to enter India through a joint venture with Tata Group and another company.

"AirAsia's proposal has been cleared. It is as per the policy (which allows) up to 49 per cent FDI. Rs 80 crore is initial investment," a senior government official said.

The Foreign Investment Promotion Board (FIPB), headed by DEA secretary Arvind Mayaram, approved the proposal at its meeting here.

AirAsia has applied to FIPB to take 49 per cent in a venture with Tata Sons Ltd and Arun Bhatia's Telestra Tradeplace Pvt Ltd.

The carrier will now have to approach the aviation regulator Directorate General of Civil Aviation (DGCA) for further clearances.

"AirAsia will now have to take necessary licence etc. from DGCA," the official added.

This would be the first entry of a foreign carrier in the domestic aviation sector after the liberalisation of FDI policy in September last year.

AirAsia is looking to start flying from this year-end with 3-4 planes and an initial investment of about USD 50 million by the Malaysian budget carrier.

The proposed joint venture will operate from Chennai and will focus on providing domestic connectivity to tier-ii and tier-iii cities.

As per current rules, a carrier must complete five years of domestic operations before becoming eligible for starting overseas flights.

Tata Sons, the holding company of the USD 100 billion salt-to-software conglomerate, will hold 30 per cent in the joint venture but will not have any operating role in the airline.

This will mark the return of Tatas to aviation sector. State-owned Air India had grown out of Tata Airlines, which began flights in 1932.

AirAsia, through its operations based in Thailand and Malaysia, flies to Chennai, Bangalore, Kochi, Tiruchirappalli and Kolkata in addition to 20 countries.

AirAsia, Tatas and Hindustan Aviation of Bhatias have signed a partnership agreement for the venture.

Air Asia has made the move to invest even as Etihad and Jet Airways continue to work towards finalising a deal for the Gulf carrier to invest in Jet.

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Agencies
March 10,2020

Bhopal, Mar 10: The number of MLAs who have resigned from the Congress in Madhya Pradesh climbed to 20 on Tuesday afternoon with another legislator quitting the ruling party, sources said.

While 19 MLAs, most of them believed to be loyal to expelled party leader Jyotiraditya Scindia, have sent their resignation letters via e-mail to Raj Bhavan, Bisahulal Singh submitted his resignation letter as an MLA to the Assembly speaker.

"We have received resignations of 19 MLAs through e-mails with attachments," a Raj Bhawan official told PTI.

Sources in Congress produced a copy of Bisahulal Singh's resignation letter which he submitted to the speaker.

Former chief minister and senior BJP leader later announced that Singh (65) has joined the BJP.

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News Network
May 18,2020

As many as employees of Zee News have tested positive for the coronavirus, Editor-in-Chief Sudhir Chaudhary said on Monday. Most of them are asymptomatic, he said, tweeting an official statement from Zee News about the situation.

The organisation said that on May 15, one of its employees tested positive for the coronavirus. Following this, the company started testing employees who may have come in contact with the employee. Twenty-seven more were found to be infected.

“Fortunately most of them are asymptomatic and are not complaining of any discomfort,” Zee News said. “We believe this is because of early diagnosis and proactive intervention.”

The news network said all guidelines and protocols have been followed, and its office, newsroom and studios have been sealed for sanitisation. The Zee News team has been shifted to an alternative facility.

“At the moment, Zee Media Corporation has 2,500 employees, by far the largest in the private sector,” the company said. “We are committed to the safety of each one of them.”

Chaudhary also claimed that “those who are infected had the option of sitting at home and sharing memes”. “They came to work because they are committed professionals.”

Following this, some social media users claimed that Zee News employees found infected with Covid-19 were still at work. In response, Chaudhary alleged that a malicious campaign was being conducted to distort his statement. He said no infected employee had come to work, and all the contacts of the employee who tested positive on May 15 had been tested and quarantined.

Over the past two months, journalists from several media organisations have tested positive for the coronavirus. On April 21, 26 employees of a Tamil news channel based in Chennai tested positive for the coronavirus. The previous day, over 50 journalists from Mumbai were found infected, after samples of over 170 journalists were tested.

On May 7, a newspaper journalist died of the coronavirus in Agra. Some states, such as Uttar Pradesh, Karnataka and Delhi, have tested journalists for Covid-19.

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News Network
May 29,2020

Bengaluru, May 29: Former prime minister H D Deve Gowda mourned the demise of Rajya Sabha member and Managing Director of leading Malayalam daily Mathrubhumi M P Veerendra Kumar, hailing him as a great journalist and writer.

"My deepest condolences on the demise of former union Minister and Rajya sabha member Shri M.P. Veerendra Kumar. He was a great journalist and writer. May god give strength to his family & his people to bear the loss," Gowda said in his condolence message.

Veerandra Kumar, who was a member of PTIs Board of Directors, died late Thursday at a private hospital in Kozhikode in Kerala following cardiac arrest.

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