No delay from aviation ministry in clearing AirAsia's JV:Ajit Singh
"There are some procedural issues which will be settled and there is nothing to worry. We welcome AirAsia-Tata Joint Venture (JV) and hope that it will be operational soon," he told reporters on the sidelines of Routes Asia Conference here.
"The procedure is (that) they have to get a no objection certificate (NOC) from the ministry. The Home Ministry will also check the directors' background... and we will check (if) adequate capital requirement is there, two-third directors are Indians among others.
"And once they get the NOC, they will go to DGCA to get the operator's permit...a lot of information and data is needed because safety is a very big concern in this sector... But, if the JV provides the required data, there will be no delay from the aviation ministry and DGCA in making the JV operational," Singh said.
The minister was reacting to media reports about the JV getting stalled at the Civil Aviation Ministry as it was apparently not keen to allow the Malaysian company to start a new venture in the country.
The Foreign Investment Promotion Board (FIPB) on March 6 had cleared the AirAsia¿s bid to launch an airline in India by joining hands with Tata Sons where the Malaysian carrier would hold 49 per cent stake, Tata Sons 30 per
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