Tata Sons, the Indian conglomerate that owns Taj Hotels, signed an agreement with Singapore Airlines to establish a new airline in India.

The companies said the airline, with Tata holding a 51% stake, will be based in New Delhi and will operate as a full-service carrier.

At the outset, the chairman of the three-member board will be Tata executive Prasad Menon, who referred to the venture as “a world-class, full-service airline.”

The companies said further details will be revealed “in due course.”

Tata is a highly diversified firm with interests in engineering, energy, consumer products, financial services and other fields.

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