New Delhi: India’s newest planned airline, a joint venture of the Tata Group and Singapore Airlines, expects to win swift regulatory clearance and be able to start flying by mid-next year, the carrier’s chairman said.
Indian tea-to-steel conglomerate Tata will hold a 51 per cent stake and Singapore Airlines 49 per cent in the new venture, which was announced last month, as they seek to exploit one of the world’s fastest-growing aviation markets.
“We are looking at very fast clearances. We hope that we will be able to launch by May-June,” Prasad Menon, chairman of the new carrier, Tata SIA Airlines, told reporters late on Friday.
Even though the Foreign Investment Promotion Board earlier this week cleared the venture to be headquartered in India’s capital, a string of other regulatory approvals are needed before the new carrier can take to the skies.
06/11/13 Oman Tribune
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Indian tea-to-steel conglomerate Tata will hold a 51 per cent stake and Singapore Airlines 49 per cent in the new venture, which was announced last month, as they seek to exploit one of the world’s fastest-growing aviation markets.
“We are looking at very fast clearances. We hope that we will be able to launch by May-June,” Prasad Menon, chairman of the new carrier, Tata SIA Airlines, told reporters late on Friday.
Even though the Foreign Investment Promotion Board earlier this week cleared the venture to be headquartered in India’s capital, a string of other regulatory approvals are needed before the new carrier can take to the skies.
06/11/13 Oman Tribune
