NEW DELHI: Tata Sons — the founders of Air India — are back in aviation with a bang. The group on Thursday announced it has tied up with Singapore Airlines to launch a new full-service airline in India which will initially fly on domestic routes and then head overseas too.
This new joint venture comes on the heels of Tata's partnership with Malaysian low cost carrier AirAsia under which they will launch a budget airline here 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. Tata Sons will own 51% and Singapore Airlines will own 49%," according to a statement jointly issued.
Read News In Full /Saurabh Sinha,/ Times of India/19sep13
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