Tata Sons and Singapore Airlines have signed a memorandum of understanding and applied for Foreign Investment Promotion Board (FIPB) approval to establish a new airline in India that will help further stimulate demand for air travel.
Subject to FIPB and other regulatory approvals, the airline will be based in New Delhi and will operate under the full-service model. Tata Sons will own 51 percent and Singapore Airlines will own 49 percent.
The initial board will have three members, two nominated by Tata Sons and one nominated by Singapore Airlines. The chairman 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,” said the chairman of the proposed joint venture, Mr Menon.
Singapore Airlines CEO, Goh Choon Phong, added: “We have always been a strong believer in the growth potential of India’s aviation sector and are excited about the opportunity to partner Tata Sons in contributing to the future expansion of the market.”
Mr Goh added: “Tata Sons is one of the most established and respected names in India. With the recent liberalisation, the time is right to jointly bring consumers a fresh new option for full-service air travel. We are confident the joint venture airline will help to stimulate market demand and provide economic benefits to India.”
To Get the latest 2018 quote for this "Tata Sons and Singapore Airlines to establish new airline in India" travel deal package, contact our travel agent by this Travel Booking Form
Note: The rates mentioned in this package are lowest and subject to change without prior notice. The peak season rates are different as mentioned here, kindly contact the travel agent before booking.
If you have not decided yet or wants to customize tour itinerary or hotels listed above in "Tata Sons and Singapore Airlines to establish new airline in India", then we can change the travel itinerary and make a personalized, tailor-made holiday package, especially for you. We can modify this travel package as per your itinerary, budget, duration and the tourist places you would like to visit, including transportation and airfare should be included or not. Please fill the form below to contact us.