Union Ministry of Civil Aviation on 2 April 2014 approved the Tata and Singapore Airlines (SIA) joint venture. The Aviation Ministry also issued no-objection certificate (NOC) to the new airline JV called Tata SIA Airlines Ltd.
The approval given to the Tata SIA Airlines Ltd came in a record time. The joint venture got the approval within a time period of little more than four months. Tata and SIA first got the clearance from Foreign Investment Promotion Board (FIPB) in November 2013.
The approval came few days after the Union Home Ministry informed the Aviation Ministry that it had cleared the start-up’s board of directors on security grounds.
The Board of Directors of the Tata SIA Airlines Ltd comprises of Chairman Prasad Menon, a long-time Tata group executive; Mukund Rajan, Tata Sons brand custodian and chief ethics officer; and Mak Swee Wah, SIA’s executive vice-president (commercial).
Now Tata SIA Airlines Ltd. will apply to the Directorate General of Civil Aviation (DGCA) for air operators permits (AOP). The AOP process requires the airlines to fulfill all technical specifications required to launch an airline in India.
About Tata and SIA
Tata Sons and Singapore Airlines announced the launch of a full-service carrier in India in September 2013. Tata will own 51 percent and the rest will be owned by SIA in the joint venture.
The joint venture called Tata-SIA Airlines Ltd is the second airlines to enter in India aviation market since the Foreign Direct Investment (FDI) rules were relaxed in September 2012. The first was AirAsia India—a joint venture between AirAsia Bhd, the Tata group and businessman Arun Bhatia of Telestra Tradeplace. Air Asia India got the NOC from Aviation Ministry in September 2013.
When: 2 April 2014