Foreign airlines are showing a keen interest in buying stakes in Indian carriers, according to CNBC-TV18 sources.
As per current norms, the government allows a 49% foreign direct investment (FDI) in airlines but foreign airlines are not allowed to pick up stake. A Cabinet meeting on November 17 may consider re-visiting both rules.
Sources say international airlines like Virgin Atlantic, Emirates and Singapore Airlines and these companies have approached the Indian government urging it to change norms.
11/11/09 Moneycontrol.com
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