SINGAPORE (Yosefardi) – Singapore Airlines (SIA) has received approval from India’s Foreign Investment Promotion Board (FIPB), dated 22 November 2013, to establish a joint venture airline in India with Tata Sons.
As announced on 19 September 2013, the joint venture will be 51%-owned by Tata Sons and 49%-owned by Singapore Airlines. Singapore Airlines’ investment will be USD49 million.
The establishment of the airline remains subject to further approvals, from India’s Directorate General of Civil Aviation.