'Govt looking at FDI by foreign airlines in Indian carriers'

Bangalore: The government is looking at allowing foreign airlines to invest in domestic carriers but there would be no change in FDI cap of 49%, Civil Aviation Minister Ajit Singh said today.
"FDI is already allowed in airlines up to 49%. We are not changing that 49%," Singh told a press conference after a meeting of the consultative committee of his ministry, and a separate interaction with players of aerospace industry here.
"But what we are trying to do....right now other (foreign) airlines are not supposed to participate in the FDI (foreign airlines can't invest in Indian carriers)...We are trying to see if other airlines are also allowed to participate (in the FDI)," he said.
Singh argued the airlines business is a complicated one and only airlines would be interested in investing in other carriers.
17/07/12 PTI/Daily News & Analysis

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Categories: Foreign Jul 2012, Indian Aviation- In General Jul 2012