FIPB clears Tata-SIA airline venture

FIPB clears Tata-SIA airline venture

The Foreign Investment Promotion Board (FIPB) has cleared 20 Foreign Direct Investment (FDI) projects, including the

Tata-SIA airline venture has been cleared by FIPB
Tata-SIA airline venture has been cleared by FIPB

proposal of a Tata Sons and Singapore Airlines full-service carrier.

The board in its meeting cleared 20 proposals amounting to INR915 crore approximately. The Tata Sons-Singapore Airlines venture has been cleared for INR303.18 crore (US$ 49 million) to set up a 49:51 Joint Venture which will set up a domestic and international full-service passenger airline based in New Delhi.

The venture is registered under Tata-SIA Airlines Limited, however the brand name of the airline is yet to be disclosed by the company.

 

Gary Marshall
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Gary Marshall
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