Tata, Singapore Airlines plan India JV
New Delhi, September 19, 2013
India's Tata Sons has tied up with Singapore Airlines to launch a new full-service airline in the country, which will initially fly on domestic routes and then head overseas too, a Times of India report said.
Earlier, Tata had set up a partnership with Malaysian low cost carrier AirAsia under which they will launch a budget airline in India possibly before the year-end.
"Tata Sons and Singapore Airlines have signed a memorandum of understanding (MoU) and applied for Foreign Investment Promotion Board (FIPB) approval to establish a new airline in India that will help further stimulate demand for air travel.... the airline will be based in New Delhi and will operate under the full-service model," the report quoted a statement as saying.
Tata Sons will own 51 per cent and Singapore Airlines will own 49 per cent of the centure, according to the statement.
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