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Rediff.com  » Business » FIPB clears Tata-Singapore Airlines JV

FIPB clears Tata-Singapore Airlines JV

Last updated on: October 24, 2013 13:58 IST

FIPB clears Tata-Singapore Airlines JV

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Government on Thursday gave green signal to Singapore Airlines' proposal to start an aviation venture with Tata Sons entailing an initial foreign investment of $49 million.

"It (Tata-SIA proposal) has been cleared," Economic Affairs Secretary Arvind Mayaram told reporters after a meeting of the Foreign Investment Promotion Board in New Delhi.

Mayaram said no riders have been set for the joint venture.

In their new venture, Tata SIA Airlines Ltd, Tata Sons would hold 51 per cent stake and Singapore Airlines 49 per cent.

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Image: A stewardess posing for a photo in the business class cabin Airbus A380 superjumbo after it landed in Singapore.
Photographs: Rediff Archives

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FIPB clears Tata-Singapore Airlines JV

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Government on Thursday gave green signal to Singapore Airlines' proposal to start an aviation venture with Tata Sons entailing an initial foreign investment of $49 million.

"It (Tata-SIA proposal) has been cleared," Economic Affairs Secretary Arvind Mayaram told reporters after a meeting of the Foreign Investment Promotion Board in New Delhi.

Mayaram said no riders have been set for the joint venture.

In their new venture, Tata SIA Airlines Ltd, Tata Sons would hold 51 per cent stake and Singapore Airlines 49 per cent.

Click NEXT to read further. . .


Image: A Singapore Airlines stewardess poses at a first class cabin seat during the launch of their new generation of cabin products at Changi Airport in Singapore.
Photographs: Edgar Su/Reuters

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FIPB clears Tata-Singapore Airlines JV

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This is the third attempt by Tatas and SIA to enter the Indian civil aviation sector.

Tatas have a long history of association with civil aviation in India.

JRD Tata had started Tata Airlines in 1932, which was later in 1946 renamed as Air India and was subsequently nationalised in 1953.

The JV would also provide air transport carriers for both passengers and freights as well as supporting services to air transport, like operation or airport flying facilities, radio beacons, flying control centres and radar stations.

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Image: A boy flies a kite from a rooftop overlooking Chhatrapati Shivaji International Airport, as a Boeing 737 aircraft belonging to Air India comes in to land in Mumbai.
Photographs: Vivek Prakash/Reuters

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FIPB clears Tata-Singapore Airlines JV

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In February this year, Tatas also announced a partnership with Malaysia's AirAsia for a low-cost carrier in India, wherein Arun Bhatia's Telestra Tradeplace is the third partner.

FIPB had approved this venture in April 2013.

As per latest data, during the April-July period, FDI inflow grew by 20 per cent to $7.05 billion, from $5.90 billion in the same period last fiscal.


Image: An Airbus A380 jet of Singapore Airlines takes off from the airport in Zurich.
Photographs: Arnd Wiegmann/Reuters

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