Friday, April 28, 2006

Pvt equity for pilot training schools

Mumbai: Government is planning to allow investors to buy into state-owned pilot training schools.
The move, civil aviation minister Praful Patel said, is aimed at scaling up the operations of the government-controlled pilot training institutions and meet the growing demand of trained manpower in the civil aviation industry.
Though the quantum of government equity to be diluted is yet to be finalised, Patel said dilution would be in line with current norms in the aviation industry which restricts FDI at 49%. "It will be within sectoral caps."
Government today owns a dedicated pilot training institute Indira Gandhi Rashtriya Udan Academy in Rai Barreily, UP, in addition to a host of flying clubs across the country. Besides, it is planning to set up a new pilot training academy in Gondia, Maharashtra. Government has started work on identifying JV partners and is hopeful of finalising it by this year-end.
28/04/06 Byas Anand/Times of India
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