The Foreign Investment Promotion Board (FIPB) today gave green signal to Singapore Airlines’ proposal to start an aviation venture with Tata Sons. This entails an initial foreign investment of 49 million dollar. Economic Affairs Secretary Arvind Mayaram told reporters after the meeting of FIPB in New Delhi, the proposal has been cleared and no riders have been set for the joint venture.

In the new venture Tata SIA Airlines Ltd, the Tata Sons would hold 51 per cent stake and Singapore Airlines 49
per cent. With this, decks are cleared for Tata SIA to launch operations as a full-service air carrier in the country.