New Delhi: After suffering a debt burden of Rs one lakh crore during 2000-10 and losses of Rs 20,000 crore in the past three years, Indian civil aviation industry can again fly on a growth curve in 2012 if the government lowers taxes on jet fuel, upgrade airport infrastructure and allow three major airlines to offload 49 per cent of promoters’ stake to foreign airlines for raising Rs 2,550 crore, industry body ASSOCHAM said on Thursday.
The three major airlines are Jet Airways, Kingfisher Airlines and SpiceJet.
In case 26 per cent of promoter equity stake is offloaded, the three airlines can mobilise Rs 1,350 crore.
Selling 26 per cent of all issued shares (promoter and non-promoter) could help buy Rs 2,840 crore while offloading 49 per cent to foreign airlines will generate Rs 5,400 crore.
Progressive policies and collaborative approach between the government and the industry can propel India among the top five aviation markets globally by 2015, said The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
29/12/11 India Blooms
To Read the News in full at Source, Click the Headline
0 comments:
Post a Comment