Airlines welcome FDI in aviation

A proposal that was stuck due to lack of political consensus finally passed and India's domestic carriers breathing a sigh of relief after the Government announced a much-awaited change in policy allowing Foreign Direct Investment (FDI) by foreign carriers. In the past many airlines, especially cash-strapped carrier Kingfisher Airlines actively campaigned for FDI in aviation for a much needed bailout.
"We are very pleased that the Government has decided to allow foreign airlines to invest upto 49% in the equity of Indian scheduled airlines. This will open up a wide range of opportunities for both Indian carriers and foreign carriers who wish to participate in the strong growth potential for civil aviation in our country,” a Kingfisher Airlines statement said.
15/09/12 Times of India

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Categories: Indian Aviation- In General Sep 2012, New Sep 2012