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India Foreign Investment Promotion Board to consider Singapore Airlines-Tata JV plan on 18-Oct-2013

9-Oct-2013 10:02 AM

India's Foreign Investment Promotion Board stated (08-Oct-2013) it would consider a proposal on 18-Oct-2013 from Singapore Airlines to establish an Indian airline in a JV with the Tata Group. As previously reported, Tata and Singapore Airlines plan to form a full-service airline based in New Delhi. The companies will initially invest a combined USD100 million to start the carrier, with Tata owning 51% and Singapore Airlines the remaining 49%. [more - original PR]