Tuesday, April 25, 2006

Years to change Draft Aviation Policy?

Civil Aviation Minister Praful Patel says that current policy on not allowing foreign airlines to pick up stake in domestic carriers could change in the next five years.
CNBC-TV18 had reported earlier that the Draft Aviation Policy recommends a review on foreign airlines picking up a stake in domestic carriers. Patel says the government will first give time to domestic carriers to find their feet before allowing foreigners in.
The draft policy also recommended merging Air India and Indian. Patel says the merger will happen before the end of this financial year. The IPO would also be floated around the same time. Patel says the government is debating whether to go ahead with the merger first or the IPO. To get Left parties on board, the minister also says that employees would not be retrenched.
Patel also says that the modernisation of non-metro airports will happen in partnership with private players. Airports Authority of India will play the lead role.
24/04/06 Moneycontrol.com
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