New Delhi: So far, no foreign airline has sought to invest in a domestic airline, Minister for Civil Aviation Ajit Singh said.
In September, the Cabinet Committee on Economic Affairs had allowed foreign airlines to acquire stake of up to 49 per cent in domestic airlines.
“It is a long-term policy. Aviation is a very complicated business. The management and technical expertise that you get by tying up with another airline will help the Indian industry. Let us see what happens now,” the Minister said at the Economic Editor’s conference here.
He said that work on three new greenfield airports at Mopa in Goa, Navi Mumbai and Kannur in Kerala was expected to begin by the end of this financial year.
09/10/12 Business Line
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In September, the Cabinet Committee on Economic Affairs had allowed foreign airlines to acquire stake of up to 49 per cent in domestic airlines.
“It is a long-term policy. Aviation is a very complicated business. The management and technical expertise that you get by tying up with another airline will help the Indian industry. Let us see what happens now,” the Minister said at the Economic Editor’s conference here.
He said that work on three new greenfield airports at Mopa in Goa, Navi Mumbai and Kannur in Kerala was expected to begin by the end of this financial year.
09/10/12 Business Line
