Airline Joint Venture to create jobs, boost airline sector: Tata-SIAThe two partners have also listed out a number of other economic benefits for the country from their new venture, Tata SIA Airlines Ltd, where Tata Sons would hold 51 per cent stake and Singapore Airlines (SIA) 49 per cent.

"The brand 'SIA' is recognised worldwide and the expansion of the 'SIA' in India will signal the ability of the country to attract leading names from the international circuit to benefit the Indian market and customers. "High foreign investment inflows would further strengthen the civil aviation sector," the two partners said in an application to the Foreign Investment Promotion Board (FIPB), while seeking approval for USD 49 billion worth FDI by SIA.