New Delhi: Moving ahead with the reforms, the government on Thursday notified the Cabinet's decision to allow foreign airlines to pick up upto 49 per cent stake in private Indian carriers .
"The Government of India has reviewed the position in this regard and decided to permit foreign airlines also to invest in capital of Indian companies operating scheduled and non-scheduled air transport services up to the limit of 49 per cent of their paid up capital," the notification said.
This would now pave the way for much-needed equity infusion into Indian carriers which are in dire need of funds for operations.
20/09/12 PTI/Business Today
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"The Government of India has reviewed the position in this regard and decided to permit foreign airlines also to invest in capital of Indian companies operating scheduled and non-scheduled air transport services up to the limit of 49 per cent of their paid up capital," the notification said.
This would now pave the way for much-needed equity infusion into Indian carriers which are in dire need of funds for operations.
20/09/12 PTI/Business Today
