Top India duo take lead role in JV to launch new airline

Two of India’s largest firms have taken lead roles on a joint venture between Singapore Airlines and the founders of Air India.

Amarchand & Mangaldas & Suresh A Shroff is acting for Singapore Airlines on the deal with Air India founders Tata Sons to create a new carrier in the country. 

Competition partner Naval Satarawala Chopra and corporate lawyer and managing partner Cyril Shroff are leading for the firm.

AZB & Partners has taken the mandate for Tata Sons, with Mumbai-based M&A partner Shuva Mandal understood to be leading. 

The two companies announced last month they planned to launch a jointly owned New Delhi-based carrier to create a new option for air passengers in India, subject to regulatory and Foreign Investment Promotion Board (FIPB) approvals. 

Local reports said that the new airline will initially offer domestic flights within India before expanding into international routes.

According to a statement, Tata Sons will own 51% of the business and Singapore Airlines will own 49%.