Statesman news service
Mumbai, 26 September
Having obtained the crucial no objection certificate (NoC) from the civil aviation ministry, AirAsia India, the low cost carrier floated by Malaysia’s AirAsia, Tata Sons and Mr Arun Bhatia’s Telstra Tradeplace, is now a step away from commercial take-off before the end of the current fiscal.
 Mr Tony Fernandes, CEO of AirAsia India disclosed the "very exciting development" on Twitter today. He wrote: "I am thrilled to announce that AirAsia India has received NoC approval from the Government of India. Very exciting and hugely profitable." The new low cost carrier will now approach Director General of Civil Aviation requesting scheduled operator’s permit (SOP) or licence to fly which is the final step or clearance ahead of launching commercial flights from its main hub Chennai. AirAsia, Tata Sons and Telstra Tradeplace are the joint owner of the new LCC in 49:30:21 proportion. AirAsia Malaysia will be sending planes from its huge fleet for operations from Chennai. The Tatas have again clarified that they are committed to be a part of the AirAsia floated LCC although they have joined hands with Singapore Airlines to start a new airlines with 51 percent stake. A formal application for the private airline has been submitted for approval to the foreign investment promotion board or FIPB. The Tata-SIA proposed collaboration crossed the first hurdle as the Air India CMD said they would not oppose the entry of the new airline.