Tata Sons and Singapore Airlines will launch a new full-service airline in India soon, an official announcement said here Thursday.
The two companies have signed a memorandum of understanding and applied for Foreign Investment Promotion Board approval for the new airline of which Tata Sons will own 51 percent and Singapore Airlines 49 percent stake.
After securing the FIPB and other regulatory approvals, the new airline will be based in New Delhi and help further stimulate demand for air travel.