> renamed | ^ merged in | => merged to form airline | +> or + assets taken | < divided |
♦ Magic Air, the new budget airline promoted by Nira Radia attempted to launch in 2004 but British citizen Radia, held 60% of Magic Air’s equity and proposed to place the rest with foreign funds. If this went ahead, company would breach the 49 per cent foreign direct investment (FDI) cap imposed by government policy on airlines. The carrier failed to start ♦
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