AirAsia has found an Indian partner to open an AirAsia India operation in India for Domestic and International operations.

The AirAsia has teamed up with India’s Tata group and Hindustan Aviation to set up a new airline to be known as AirAsia India.

In the deal, the Indian parties will take 51 % equity stake while AirAsia will hold the remaining 49 %. Which is the equity it normally takes in its foreign joint ventures.  Of the 51%, Sources said Tata Group will have 30% stake and Hindustan Aviation 21% equity stake.

The three parties is said to have signed the partnership agreement this week and have submitted a proposal to the Indian government to seek a domestic air services licences also this week.

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