Singapore Airlines, Tata set up new full-service airline

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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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. 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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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