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Tata Sons signs MoU with Singapore Airlines to launch airline in India

New Delhi, Thu, 19 Sep 2013 NI Wire

Tata Sons and Singapore Airlines will start a new full-service airline in India very soon according to an official announcement made by the company on Thursday.

Both the companies have signed a memorandum of understanding (MoU) and have applied for Foreign Investment Promotion Board approval to launch the new airline service of which Tata Sons will own 51 percent, while the Singapore Airlines will retain 49 percent stake.

After getting approval from the FIPB and other regulatory, the new airline will be launched and will be based in New Delhi and aim to further stimulate demand for air travel in the country.

-With inputs from IANS

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