The pioneer of aviation business in the country is back with a bang as Tata Sons on Thursday announced it has tied up with Singapore Airlines (SIA) to set up a full service carrier in India to help stimulate demand for air travel.
The new airline will be based in New Delhi and Tata Sons will own 51 per cent, while SIA will own 49 per cent in the proposed joint venture. The airline, however, is subject to FIPB and other regulatory approvals. The Chairman or the airline will be Prasad Menon, nominated by Tata Sons.
“It is Tata Sons’ evaluation that civil aviation in India offers sustainable growth potential. We now have the opportunity to launch a world-class full-service airline in India. We are delighted that we are partnering in this endeavour with the world renowned Singapore Airlines,” Menon said in the statement.