Tata Sons on Monday said it is “hopeful” of getting Government approvals for the proposed full service airline in collaboration with Singapore Airlines.
“I think there is a process... So it (approval process of Tata-SIA) will take its natural course. We are hopeful that we will get all the approvals,” said Mukund G Rajan, brand custodian and chief ethics officer of Tata Sons.
The proposal of Tatas and Singapore Airlines for a new joint venture, entailing foreign investment of $49 million, is likely to come up before the Foreign Investment Promotion Board (FIPB) for approval on October 18.
The proposed venture will also require approvals from agencies such as the DGCA, the tax department as well as other ministries.