AirAsia and Tata have announced their intention to partner up and launch a domestic Indian carrier. AirAsia will have a 49% stake in the carrier and manage its operations. Tata will have a 30% stake. No words yet on the remaining 21% stake.
The hub of the still-nameless new carrier is expected to be MAA.
AirAsia is the first foreign carrier to enter the domestic Indian market since the government relaxed its laws against foreign intervention.
More details to be released later.