Airline policy revamp likely after Prez poll

New Delhi: The Government is working on a comprehensive package for the airline industry. This will also include relaxation of norms for Foreign Direct Investment (FDI) in domestic airlines.
A senior Government official told Business Line, “The Cabinet is likely to consider a comprehensive package immediately after the Presidential election. This package is being prepared in consultation with the Ministries of Civil Aviation, Petroleum and Finance, Department of Industrial Policy and Promotion (DIPP) among others” The Presidential election will be over with the counting of votes, scheduled for July 21.
The highlight of the package will be allowing foreign airlines to pick up equity in domestic scheduled airlines. At present, though FDI up to 49 per cent is allowed, foreign airlines cannot pick up equity either directly or indirectly. The expected change in policy may remove this restriction.
11/07/12 Shishir Sinha/Business Line

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Categories: Indian Aviation- In General Jul 2012