Tatas today announced that the Group, through its companies, Tata Sons Limited and its Indian affiliates, will lead a consortium with Singapore Airlines as its Foreign Joint Venture partner for the proposed bid by the consortium to acquire 40% equity in Air India.

Explaining the Group’s choice of Singapore Airlines as its partner, Mr. Ratan Tata, Chairman, Tata Sons Limited, said "Singapore Airlines is a global player with impeccable credentials that has grown over the last 28 years to become a universally respected, world-class airline. Its airline operating competency will be a significant asset to the consortium and will be critical in ensuring the success of Air India in the international market place".

Dr. Cheong Choong Kong, Deputy Chairman and Chief Executive Officer of Singapore Airlines, expressed his happiness at Singapore Airlines joining the Tata-led Indian consortium. Dr. Cheong said "We share a common commitment to the highest standards of quality, service and corporate values and would happily accept the opportunity, if given, to work with the Tata Group and Air India to take the Maharajah to greater heights."

Singapore Airlines operates a 92 aircraft fleet with an average age of 5.6 years including latest aircraft like the B777s, the B747-400s, and the A340s. Singapore Airlines also announced recently the purchase of 25 Very Large Aircraft (VLA) from Airbus Industrie to augment its B747-400 fleet of aircraft. The Group revenues of Singapore Airlines in 1999-00 were S$ 8.9 bn (approximately US$ 5.05 bn).

The Tata Group is India’s most respected business house, with a Group turnover of US$ 8.3 bn in 1999-00. Tatas pioneered civil aviation in Indian skies under the leadership of the Late Mr. J.R.D. Tata, the founding Chairman of Air India, a position he held for 31 years.