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FIPB defers decision on Tata airline to August 8

The Foreign Investment Promotion Board has deferred the decision on the Rs 14.75 billion Tata-Singapore Airlines venture till August 8.

FIPB sources said they need some more time to come out with a clear policy on private airlines with foreign equity. The venture been hanging fire for the last four years.

The agreement between the Tatas and Singapore Airlines, to float a private airline in the Indian civil aviation sector, was signed in 1995.