The Foreign Investment Promotion Board (FIPB) has cleared AirAsia-Tata Sons JV's investment proposal, according to reports.
Earlier reports stated that that the aviation ministry is understood to have opposed the plan.
AirAsia Group CEO Tony Fernandes is keen to kick off his airline in the country as early as May-June instead of his earlier plans towards the year-end, report said.
India Infoline Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices