A new airline will fly in the Indian skies. It will be based in New Delhi and will not be low cost. The project is signed by the industrial giant Tata and Singapore Airlines, which – after signing a letter of intent – have filed an official application to give life to the new carrier.
The initiative "will help stimulate demand in the air transport sector" in India, say the two companies, specifying that the operation must receive the go-ahead from the Council responsible for managing foreign investment in the country.
The new company will be 51% owned by Tata and 49% by Singapore Airlines. "The Tata Group expects civil aviation in India to offer lasting growth prospects," said Prasad Menon, who has already been appointed president of the company.
Attachments: The Times of India
