Local media has reported that Air Asia and Tata Group, which announced their intention to set up a new India domestic airline with Arun Bhatia of Telestra Tradeplace, is planning to be operational by the end of the year. Approval for leasing aircraft and carrying air freight has already been sought and the airline will be set up by June. Tony Fernandes, AirAsia Group CEO, states that the airline – that will be based in Chennai – may begin operations with a fleet of three or four A320s. He will initially invest approximately $50 million.
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