India's Ministry of Finance stated (19-Nov-2013) the Foreign Investment Promotion Board (FIPB) has approved a proposal by Singapore Airlines Ltd to establish a JV company with Tata Sons. The FIBP approved Singapore Airlines to "set up a JV Company in the ratio of 49%: 51%, which will be engaged in domestic and international full service scheduled passenger airlines services in the civil aviation sector in India". This relates to FDI/NRI inflows of INR303.18 crore, equating to USD49 million. [more - original PR]
Singapore Airlines’ JV with Tata Sons gains FIPB approval
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