To launch a full-fledged airline company, Tata Sons has submitted all requisite documents and details with the Union Corporate Affairs Ministry. The proposed aviation venture is called, 'Tata SIA Airlines Ltd' as a public limited company.
It is joint venture between Tatas and Singapore Airlines, with Tata Sons holding the majority 51 per cent stake and the Singaporean aviation major having the remaining 49 per cent equity.
The Union Corporate Affairs Ministry stated that the new company was incorporated on November 5 with a total paid up capital of Rs 5 lakh and has been registered in New Delhi.