New Delhi: After two failed attempts over a decade back, Tata Sons and Singapore Airlines (SIA) will finally be together in the cockpit of a start-up airline in India by early next year. The foreign investment promotion board (FIPB) on Thursday cleared their $100-million initial investment proposal for a full service airline, in which Tatas will have 51% and SIA 49%. The proposal was submitted on September 19.
Economic affairs secretary Arvind Mayaram said the JV has been cleared with no riders. The airline will now need security clearance for its foreign directors, followed by a clearance from the aviation ministry, and then a scheduled operator permit from the Directorate General of Civil Aviation (DGCA). Flyers can now expect to be spoilt for choice once again as the Delhi-based full service "Tata SIA Airlines Ltd" could fly in a few months, soon after Tata's budget carrier with AirAsia takes off.
"All this process (at DGCA and security clearances) can take anywhere between one to four months. It all depends on how fast they complete the paperwork," aviation minister Ajit Singh said.
Read news in full 25/10/13 Times of India
Wednesday 30 October 2013
Tata-Singapore Airlines to fly in early 2014
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