The Tata conglomerate has signed a deal with Singapore Airlines plans to launch a full service airline in India, seven months after forming a partnership with Malaysia’s AirAsia to start a low-cost carrier. Under a memorandum of understanding signed Sept. 19, Tata will own 51% of the new airline, while the Singaporean operator will hold the remaining 49%, a Tata spokesman says.
Pakistan’s government has announced plans to sell a stake in Pakistan International Airlines (PIA). Under the plan, potential buyers will be offered 26% of PIA’s shares along with the transfer of management control, a government spokesman says. “The sale is likely to draw international buyers, and might turn into a milestone for the country’s privatization plan,” the spokesman adds.
