Tata & Singapore Airlines: keen to fly | beyondbrics:
"What can Tata possibly see in this struggling sector?
For the second time this year, Tata Sons has announced plans to launch a new Indian airline. The illustrious group has joined forced with Singapore Airlines and put in an application with the Foreign Investment Promotion Board, India’s FDI regulatory body.
The plan is for the Indian partner to take 51 per cent of the new business, which will be based in New Delhi, while Singapore Airlines would have the remaining 49 per cent.
“It is Tata Sons’ evaluation that civil aviation in India offers sustainable growth potential,” Prasad Menon, who will be president of the joint venture, said in a statement. “We now have the opportunity to launch a world-class, full-service airline in India.”"
'via Blog this'
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