Task cut for Ajit Singh as new Civil Aviation Minister to revive a beleaguered aviation sector

New Delhi: New Civil Aviation Minister Ajit Singh has his task cut out for reviving a beleaguered aviation sector, burdened by high costs and huge financial losses, with the industry expecting some concrete steps by government in the near future to face this precarious situation.
With the revival of Air India kept high on government's agenda and a Group of Ministers likely to decide soon on infusing additional equity in the cash-strapped national carrier, Singh would have to follow the roadmap already set by the government to bring the company out of the financial rut.
Premier private carrier Kingfisher Airlines is also seeking government help in meeting the demands of the state-run oil firms for clearance of dues and talking to banks, including public sector ones, to lower its interest cost.
Similar demands are also being made by other private carriers, including the no-frills ones.
The issue of allowing foreign airlines to pick up equity in Indian carriers is also a major demand of a section of the industry, which Singh would have to follow up on, industry sources said.
18/12/11 Economic Times

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Categories: Indian Aviation- In General Dec 2011