Tata-Singapore tie-up seen reaffirming India aviation potential

NEW DELHI, September 21, 2013 (AFP) - A new Indian airline planned by the giant Tata Group and Singapore Airlines reaffirms the nation's longterm potential as an aviation market, despite the sector's current financial turbulence, analysts say.
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Tata Sons, the holding company of tea-to-software conglomerate Tata Group, and SIA said this week they were setting up a full-service airline after two failed joint bids to take to Indian skies.

"This investment affirms India's reputation as a lucrative aviation market in the long-run," Amber Dubey, aerospace head at global consultancy KPMG said.
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The $100-billion Tata Group in 1932 pioneered air travel airline in India with Tata Airlines, later taken over by the government and rebranded Air India.

It will hold a majority 51-percent stake in the full-service carrier while SIA will hold 49 percent as they seek to exploit one of the fastest-growing aviation markets globally.
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"The proposed airline has applied for Foreign Investment Promotion Board approval," a Tata spokesman said.

However, the joint venture needs a slew of other regulatory approvals and it could be another year before it starts flying, analysts say.

Also, while India's air passenger traffic has doubled over the