 The airline was founded in 2013 as a joint venture ( JV ) between India 's conglomerate Tata Sons and Singapore Airlines ( SIA ) . The two companies had made a bid in the mid @-@ 1990s to launch a full service carrier in India that was unsuccessful , being denied regulatory approval by the Indian government . With India opening up its airline sector for 49 percent foreign direct investment ( <unk> ) in 2012 , Tata and SIA once again decided to float a JV airline company in India . The JV , Tata SIA Airlines Limited ( <unk> ) , was envisaged as a premium full @-@ service carrier to cater to the demands of high @-@ end business travellers in India 's civil aviation market dominated by low @-@ cost carriers . India 's Foreign Investment Promotion Board approved the JV in October 2013 , allowing SIA to take a 49 percent stake in the airline . The two parent companies initially pledged to invest a combined US $ <unk> as start @-@ up capital , with Tata Sons owning 51 percent and Singapore Airlines owning the remaining 49 percent . This was part of Tata 's second major foray into the aviation sector along with a minority stake in <unk> India . The company 's first venture , Tata Airlines , was established in the 1930s and later became the flag carrier Air India after <unk> . 
