Air asia planning to start an airline with the Tata Group and Telestra Tradeplace Pvt Ltd

Air asia, south east asia's leading budget airline is planning to start an airline with the Tata Group and Arun Bhatia of Telestra Tradeplace Pvt Ltd, the company said in an official statement on Wednesday.

The new joint venture has already sought FIPB approval. Air Asia will have 49 per cent in the JV while the Tata Group and Bhatia's Hindustan Aviation will have the residual 51 per cent.

Bhatia's son Amit is Lakhmi Mittal's son in law. Amit Bhatia and Air Asia's chief Tony Fernandes are also co owners of British soccer team Queens Park Rangers.