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Tata, SIA incorporate airline venture- Tata SIA Airlines Ltd - The Economic Times

10/11/13 5:24 pm

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Tata, SIA incorporate airline ventureTata SIA Airlines Ltd

By PTI | 10 Nov, 2013, 01.58PM IST
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international routes, salt-to-software conglomerate Tata group has incorporated its proposed aviation venture Tata SIA Airlines Ltd as a public limited company with the filing of all requisite documents and details with the Corporate Affairs Ministry.

The incorporation documents have been signed by three directors -- Prasad Menon, Kersi Rustom Bhagat and Mukund Govind Rajan.

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The new company is a joint venture ET SPECIAL: Save precious time tracking your between Tatas and Singapore Airlines, with investments Super Typhoon leaves 6 Former babus who changed Tata Sons Ltd holding he majority 51 per Philippines devastated the way govt is run cent stake anddied the in Singaporean At least 10,000 people the central aviation Aruna Roy who left cushy govt job at a major having the remaining 49 peryoung cent equity. Philippine province of Leyte after Typhoon age to join the brigade of full-time

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strike violently before or after th Haiyan, one of the strongest storms ever to social activists. By making RTI a reality, Roy derail the govts aggressive effo make landfall, the province. has demonstrated that one can achieve away supporters from their fold As per lashed information available with the Corporate Affairs Ministry, the new company was social 8 facts about Navy's advanced jet trainer incorporated on November 5 with a totalgoals paid up capital of Rs 5 lakh and hasWomen been outnumber men in se 'Hawk 132' reserved for STs How to unshackle CBI: Lessons from registered in New Delhi. Some of the tallest statues in the world With NABARD, Murshidabad Canada spinning a new livelihood Manish Tiwari had sought statutory status for CBI in 2010 The incorporation documents have been signed by three directors -- Prasad Menon, Kersi Rustom Bhagat and Mukund Govind Rajan.

The incorporation follows approval from the Foreign Investment Promotion Board (FIPB) late last month for the proposed investment of $49 million by SIA in the joint venture, where Tatas are making initial investment of $51 million as per their shareholding structure.
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Earlier, the JV got Corporate Affairs Ministry's approval to use the name 'Tata SIA Airlines Limited'. The process of incorporating a new company for this joint venture started with registration of the name, followed by submission of various other documents, including the Article of

Page 1 of 4

Tata, SIA incorporate airline venture- Tata SIA Airlines Ltd - The Economic Times

10/11/13 5:24 pm

Not optimistic about India, hasn't been manag...


Association, and details of the company's board of directors, share capital, business areas etc. Tata SIA Airlines is among the first major companies to be incorporated under the new Companies Act, 2013. The two partners are making an initial investment of $100 million to launch the airline, which may take off next year after getting all the clearances required. This is the third attempt by Tatas and SIA to enter the Indian civil aviation sector. Tatas have a long history of association with civil aviation in India. JRD Tata had started Tata Airlines in 1932, which was later in 1946 renamed as Air India and was subsequently nationalised in 1953. In February this year, Tatas also announced a partnership with Malaysia's AirAsia for a low-cost carrier in India, wherein Arun Bhatia's Telestra Tradeplace is third partner.

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Tatas and Singapore Airlines have assured the government that control of their proposed venture would always remain in Indian hands, while seeking approval to offer full-service passenger services on both domestic and international routes. The initial board of the new carrier will have three members, which would be later expanded to six members with six nominees of Tata group. The JV would also provide air transport carriers for both passengers and freights as well as supporting services to air transport, like operation or airport flying facilities, radio beacons, flying control centres and radar stations.
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Tata, SIA incorporate airline venture- Tata SIA Airlines Ltd - The Economic Times

10/11/13 5:24 pm

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Readers' opinions (1)


TRK (Pune) 2 Hours ago

Hope, Tata expertise and SA's resources take the new airline to new heights.

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Tata, SIA incorporate airline venture- Tata SIA Airlines Ltd - The Economic Times

10/11/13 5:24 pm

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