Air One Aviation (Delhi Int'l) Director General Alok Sharma says the airline has deferred plans to enter the scheduled passenger market citing funding problems.
Speaking to The Hindu newspaper, Sharma said that while foreign investors have expressed an interest in partnering his airline, uncertainty over the future of India's 5/20 rule has scarred them off.
“No one has come to us with an investment proposal though we received NOC 16 months back," he said. "An opportunity exists for a full service carrier but because there is no clarity on Indian’s Aviation Policy more specifically on the 5/20 rule, investors are not willing to commit funding."
24/11/15 ch-aviation
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Speaking to The Hindu newspaper, Sharma said that while foreign investors have expressed an interest in partnering his airline, uncertainty over the future of India's 5/20 rule has scarred them off.
“No one has come to us with an investment proposal though we received NOC 16 months back," he said. "An opportunity exists for a full service carrier but because there is no clarity on Indian’s Aviation Policy more specifically on the 5/20 rule, investors are not willing to commit funding."
24/11/15 ch-aviation
