The joint venture carrier between Tata Sons and Singapore Airlines took the second last step before starting operations as the civil aviation ministry signed a ‘no objection certificate’ for it, according to two sources in the know.
The salt-to-software conglomerate’s other airline venture with Malaysian carrier AirAsia, is waiting for the final air operator’s permit (AOP) from the Directorate General of Civil Aviation (DGCA). “We haven’t got the letter yet but this is thrilling news. All I can say is that we are well into completing the manuals for the next step that is the AOP,” said Sanjay Singh, the Tata-SIA spokesperson.
One of the people cited said the venture is close to appointing Phee Teik Yeoh, vice-president,
Singapore Airlines as chief executive. Niyant Maru, former chief financial officer at Tata Realty and Infrastructure is likely to be the company’s finance chief. Tata and Singapore Airlines announced their venture on September 19, and applied to the Foreign Investment Promotion Board for its nod on the same day. The venture has three directors — Prasad Menon, chairman of Tata Quality Management Services who is the board’s chairman while the other two directors are Mukund Rajan, the Tata Sons brand custodian and chief ethics officer and Singapore Airline’s executive vice-president commercial, Mak Swee Wah. The board will eventually have 6 directors — 4 from the Tatas and 2 from SIA.
On October 24, the venture received FIPB approval and last week got security clearance from the home ministry.
Tata-SIA which is yet to announce its brand name, will now have to undergo a lengthy process of tests at each level before it clears the final hurdle for flying. Malaysian carrier AirAsia, which has the second joint venture with the Tatas, has been waiting for the last five months to get a flying permit from the DGCA. Since last year, the airline has been grappling with legal and regulatory issues including a case filed by BJP leader Subramanian Swamy and an appeal to the regulator from Indian carriers against giving it a flying permit.
The salt-to-software conglomerate’s other airline venture with Malaysian carrier AirAsia, is waiting for the final air operator’s permit (AOP) from the Directorate General of Civil Aviation (DGCA). “We haven’t got the letter yet but this is thrilling news. All I can say is that we are well into completing the manuals for the next step that is the AOP,” said Sanjay Singh, the Tata-SIA spokesperson.
One of the people cited said the venture is close to appointing Phee Teik Yeoh, vice-president,
Singapore Airlines as chief executive. Niyant Maru, former chief financial officer at Tata Realty and Infrastructure is likely to be the company’s finance chief. Tata and Singapore Airlines announced their venture on September 19, and applied to the Foreign Investment Promotion Board for its nod on the same day. The venture has three directors — Prasad Menon, chairman of Tata Quality Management Services who is the board’s chairman while the other two directors are Mukund Rajan, the Tata Sons brand custodian and chief ethics officer and Singapore Airline’s executive vice-president commercial, Mak Swee Wah. The board will eventually have 6 directors — 4 from the Tatas and 2 from SIA.
On October 24, the venture received FIPB approval and last week got security clearance from the home ministry.
Tata-SIA which is yet to announce its brand name, will now have to undergo a lengthy process of tests at each level before it clears the final hurdle for flying. Malaysian carrier AirAsia, which has the second joint venture with the Tatas, has been waiting for the last five months to get a flying permit from the DGCA. Since last year, the airline has been grappling with legal and regulatory issues including a case filed by BJP leader Subramanian Swamy and an appeal to the regulator from Indian carriers against giving it a flying permit.
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