thinks it is critical for other airlines like SpiceJet, GoAir etc to have such kind of joint-ventures so that they are well capitalised not only to finance their losses but also to have working capital.
Union Minister of Aviation Ajit Singh says, the biggest positives for the aviation sector is marked by two landmark pacts - Tata-Singapore Airlines and Jet-Etihad deals.
The Civil Aviation Ministry has submitted replies to the CVC on a series of allegations raised by Nishikant Dubey against the deal and clarified all concerns raised by him, official sources said.
The new venture, proposed to be called Tata SIA Airlines Ltd, would have Tata Sons as the majority partner with 51 percent stake, while Singapore Airlines would hold 49 percent stake with USD 49 million of foreign direct investment (FDI).
According to Finance ministry sources the proposals which were cleared by the FIPB on the 10th of May, will not be deferre
Private carrier Jet Airways has sought approval of the Foreign Investment Promotion Board (FIPB) to sell 24 per cent stake in the company to Gulf carrier Etihad Airways, sources said.
Ratan Tata today said FIPB clearance to the airline venture between Malaysia's AirAsia, Tatas and another company reflects the Indian government's "true investor friendly policies" and such actions will reinforce confidence in the country.