New Delhi: Tata SIA Airlines Limited will in sky soon as Tata Group and Singapore Airlines has received approval from Indian government for join venture.
Corporate Affairs Ministry of India has approved the name ‘Tata SIA Airlines Limited’. According to the latest information available with the ministry, the name has been approved now and the company, Tata SIA Airlines Limited, stands registered from Delhi.
Tata SIA Airlines is among the first major companies to be incorporated under the new Companies Act, 2013 that came into effect earlier this month.
The airline’s brand name is yet to be announced.
Tata Sons Ltd, the holding company of salt-to-software conglomerate Tata group, will hold a 51 per cent stake in the new company, while Singapore Airlines would have the remaining 49 per cent.
The two partners are making an initial investment of $100 million to launch the airline, which may take off next year after getting all the clearances required.
