Ratan Tata, Tata group Chairman Emeritus and Goh Choon Phong, CEO, Singapore Airlines today called on Finance Minister P Chidambaram. They discussed the Tata—SIA join venture for launching a full service airline, sources said.
The meeting took place hours after the Foreign Investment Promotion Board (FIPB) gave its approval to Singapore Airlines to invest $49 million for starting a full service airline joint venture with Tata Sons. The initial investment in the airlines envisaged at $100 million.
After meeting Chidambaram, Tata told a television channel that he was excited about getting FIPB approval and said lots of work were needed to be done to start the venture.
This is Tatas’ second venture in the aviation sector after its tie—up with Malaysian carrier Air Asia in February for a low—cost passenger air service.