Kolkata, April 17 (Inditop.com) Air India and Singapore Airport Terminal Services (SATS) have signed an agreement to form a 50:50 joint venture that would combine their three existing ground and cargo handling entities in Bangalore and Hyderabad.
The company would be named Air India SATS Airport Services Pvt Ltd (AISATS), an Air India release said Saturday.
The new agreement was signed in Singapore Friday.
In September 2008, Air India chose SATS as its partner for ground handling in India.
Prior to that, both companies have collaborated in Hyderabad and Bangalore under three separate joint ventures, providing ground and cargo handling services since the opening of the new airports in March and May 2008, respectively.
The incorporation of AISATS, which is expected to be completed next month, will provide a legal entity to house the existing operations in Bangalore and Hyderabad and potential operations in other metro airports.
Air India and SATS will each nominate three representatives as board members of AISATS, the release added.
