Tatas and Singapore Airlines have assured the Government that control of their proposed airline venture would always remain in Indian hands, while seeking approval to offer passenger services on both domestic and international routes.
The new venture, proposed to be called Tata SIA Airlines ltd, would have Tata Sons as the majority partner with 51 per cent stake, while Singapore Airlines would hold 49 per cent stake with $49 million of foreign direct investment (FDI). The two partners have sought approval from the FIPB for the FDI. The proposed venture would also require approvals from other agencies like the DGFT, DGCA and CBEC, besides other ministeries and State Government departments.