Govt declines CAPA's 49 pc FIs in Indian carriers

Mumbai: Industry body Centre for Asia Pacific Aviation has demanded allowing foreign airlines to invest up to 49 per cent in Indian carriers, but the Centre has ruled out such a possibility in the near future.
"Investment by foreign airlines in Indian carriers should be permitted up to 49 per cent, as suggested by over 70 per cent respondents in our survey," CAPA Executive Chairman Peter Harbinger said after releasing the Aviation Investor Poll.
However, Civil Aviation Secretary Ashok Chawla said there was no proposal to consider raising the foreign investment cap in the aviation sector.
About 83 per cent of the respondents said uncertainty in the country's aviation sector was a matter of concern due to lack of transparency in the selection process and changing regulations or competing airports policy, the survey said.
13/06/07 PTI/Economic Times

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Categories: Foreign Jun 2007, General Aviation Jun 2007