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