Singapore Airlines Ltd Announces Joint Venture Airline With Tata Sons Ltd In India
Singapore Airlines Ltd announced that the Company has entered into a Memorandum of Understanding with Tata Sons Ltd, and applied for Foreign Investment Promotion Board (FIPB) approval for the establishment of a full service airline based in New Delhi, India (the JV Airline). The principal terms of the JV Airline are set out below: Tata Sons Ltd will own 51% while SIA will own 49% of the JV Airline. The total outlay (the Transaction) of USD100 million will be funded by the shareholders in proportion to their respective shareholdings.
- Share this
- Digg this