India to consider SIA JV plan next week

SIA, Tata Group to initially invest $100m.

According to a report by Reuters, India's Foreign Investment Promotion Board will consider a proposal from Singapore Airlines to set up an airline in the country in a joint venture with the Tata Group on Oct. 18, according to the regulator's website.

Tata and Singapore Airlines plan to form a full-service airline based in New Delhi, the companies said last month. The two will initially invest a combined $100 million to start the carrier, with Tata Sons owning 51 percent and Singapore Airlines the rest. (Reporting by Rajesh Kumar Singh; Editing by Prateek Chatterjee)

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