FDI in aviation under consideration: Ravi

Mumbai: Civil Aviation Minister Vayalar Ravi today said it is considering the recommendation of the Department of Industrial Policy & Promotion (DIPP) to allow foreign carriers to pick up stake in domestic airlines.
“Yes. It is true that we have not rejected DIPP’s recommendation (on allowing foreign airlines to invest in
domestic carriers). It is under our consideration,” Ravi told reporters on the sidelines of the fourth International Civil Aviation Negotiation Conference 2011 (ICAN 2011) here.
However, the minister added that his ministry has not finalised its view on the DIPP proposal.
On the ailing national carrier, which is sitting on a debt pile of close to Rs 64,000 crore including accumulated losses, Ravi said that his first priority is to increase the cash flow of Air India which is struggling with interest payments and high aviation turbine fuel cost.
17/10/11 Firstpost.com

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Categories: Foreign Oct 2011, Indian Aviation- In General Oct 2011, New Oct 2011