Patel hints at allowing foreign carriers invest in Indian ones

New Delhi: New Civil Aviation Minister Praful Patel on Friday hinted at more reforms in the sector, including allowing foreign carriers to pick up stake in the domestic airlines.
"FDI is an ongoing process. I do not think we are averse to opening up the sector on a gradual or constant basis ... In the previous regime of ours, we had visualised the situation where foreign carriers could also invest. It may not happen overnight but it may happen eventually," Patel told reporters here.
Currently, foreign carriers are not allowed to pick up equity stake in Indian carriers.
Keeping in view the problems faced by domestic carriers, he said airlines should put their expansion on hold "at least for next six months", while assuring his ministry will look into the matter of expansion by carriers on a priority basis.
28/05/09 PTI/Economic Times

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Categories: Foreign May 2009, Indian Aviation- In General May 2009