Tata-SIA gets NOC from aviation ministry
03 April 2014
Tata-SIA, the Tata group's joint venture with Singapore Airlines, has crossed another hurdle with the aviation ministry on Wednesday giving a 'No Objection Certificate' to the new airline.
The joint venture between Tata Sons and Singapore Airlines plans to start a full-service domestic airline.
Tata-SIA, in which Singapore Airlines holds a 49-per cent stake with Tata Sons holding the remaining, had proposed to start operations in June 2014.
However, the start-up airline is yet to announce a firm date for starting operations as further regulatory clearances are required before starting operations.
The aviation ministry's NOC comes after the home ministry cleared the board members of the Tata-SIA venture from the security point of view.
Tata-SIA, would now need to get its various operations manual, including the airline operations manual and airport manual, cleared by the Directorate General of Civil Aviation before getting an air operator's permit.
The airline, which got the approval of the Foreign Investment Promotion Board in October last year, proposes an initial investment of $100 million, including a foreign direct investment component of $49 million.
The new airline will now have to approach the Directorate-General of Civil Aviation to seek permission to begin operation.
Another Tata group joint venture, the no-frills AirAsia India, where Tata holds 30 per cent stake, is awaiting a flying licence from the regulator DGCA to launch its operations.