Mumbai: The Civil Aviation Ministry, on Thursday, said that it was up to the Securities and Exchange Board of India and the Corporate Affairs Ministry to clear the Tata Group’s new joint venture with Singapore Airlines.
Addressing reporters, Civil Aviation Minister Ajit Singh said: “Aviation rules do not bar Tatas from having two ventures. It is for SEBI and Ministry of Corporate Affairs to clear such ventures (in case of conflict of interest).”
In the mid-90s, the Tatas had partnered with Singapore Airlines to start a domestic airline but the Indian government rejected Tata’s proposal. There was also a move by the Tatas to participate in the proposed disinvestment of Air India and Indian Airlines, but various factors never allowed them to succeed and re-enter civil aviation.
“We would like to ensure that we are able to realise the original vision of launching a full-service, world-class airline that India can be proud of; the Tata group’s own contribution to the aviation industry in this country is also well known, and we hope to carry forward the legacy of having launched in past decades one of the world’s most admired airlines (Air India),” said a Tata Sons spokesperson.
Unlike the Group’s association with AirAsia India, Tata Sons will play an active role in the operations of this new airline, and will fully participate in the management and operations.
Read News In full 19/09/13 The Hindu
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