Singapore Airlines, Tata set up new full-service airline

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tata-headquartersIndia’s industry conglomerate Tata and Singapore Airlines have agreed to form a joint venture in order to set up a new full-service airline based in New Delhi and invest $100 million in a first step funded by both.

The Tata group will own 51 per cent of the new carrier and Singapore Airlines will own the remainder. India in 2o12 allowed foreign airlines to own up to 49 per cent in local carriers in an effort to bolster ailing local airlines.

After the rule change, Malaysia’s AirAsia Bhd and Tata formed a joint venture to launch a low-cost airline in India, while Abu Dhabi’s Etihad agreed in April 2o13 to buy a 24 per cent stake in India’s Jet Airways.

The name of the new airline has not been revealed yet. Details of the airline’s branding, management team and products and services will be announced in due course, the companies said.

Tata Airways was India’s largest airline before the government took it over in 1953 as part of its nationalisation drive following India’s independence from Great Britain, and was rebranded Air India.

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Reading Time: 1 minute

India’s industry conglomerate Tata and Singapore Airlines have agreed to form a joint venture in order to set up a new full-service airline based in New Delhi and invest $100 million in a first step funded by both.

Reading Time: 1 minute

tata-headquartersIndia’s industry conglomerate Tata and Singapore Airlines have agreed to form a joint venture in order to set up a new full-service airline based in New Delhi and invest $100 million in a first step funded by both.

The Tata group will own 51 per cent of the new carrier and Singapore Airlines will own the remainder. India in 2o12 allowed foreign airlines to own up to 49 per cent in local carriers in an effort to bolster ailing local airlines.

After the rule change, Malaysia’s AirAsia Bhd and Tata formed a joint venture to launch a low-cost airline in India, while Abu Dhabi’s Etihad agreed in April 2o13 to buy a 24 per cent stake in India’s Jet Airways.

The name of the new airline has not been revealed yet. Details of the airline’s branding, management team and products and services will be announced in due course, the companies said.

Tata Airways was India’s largest airline before the government took it over in 1953 as part of its nationalisation drive following India’s independence from Great Britain, and was rebranded Air India.

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