Wednesday, April 12, 2006

`No change in foreign airlines stake policy'

New Delhi: The Government is not in favour of allowing foreign airlines to pick up a stake in domestic airlines.
"There has been no change in the Government's thinking on not allowing foreign airlines to pick up a stake in the domestic aviation sector," said the Minister for Civil Aviation, Praful Patel, when asked whether the civil aviation policy would allow foreign airlines to pick up a stake in domestic carriers. Last year the Planning Commission, in its mid-term appraisal of the Tenth Five plan, had suggested a review of the current rules that debar foreign airlines from picking up an equity stake in domestic air transport operations.
The Government earlier allowed foreign airlines to pick up a stake in domestic airlines. However, the policy was reversed in 1996 and some foreign airlines, including Kuwait Airways, which had a share in Jet Airways, sold their stake.
12/04/06 Sify

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