The Indian government's investment promotion board's conditional nod to the proposed 24 percent stake-sale in Jet Airways to Abu Dhabi-based Etihad Airways is a positive step for the aviation industry, experts watching the sector opined Monday. "Good to see FIPB (Foreign Investment Promotion Board) clearing the Jet-Etihad deal, albeit with riders. The deal is important to Jet, which is facing significant financial challenges. The deal will also help the Indian civil aviation industry by enhancing capacity, increasing competition and bringing down airfares," said Amber Dubey, partner and head aerospace and defence at global consultancy firm KPMG.
The deal was cleared by the FIPB Monday. Now the deal will go to the Cabinet Committee on Economic Affairs (CCEA) for final approval.
"The step will instill confidence in the airlines industry in India. It particularly benefits both the partners and in general improves the prevailing investment climate in the country," said Rajiv Chib, associate director, PricewaterhouseCoopers.
Civil Aviation Minister Ajit Singh said: "The deal is good for passengers and the civil aviation sector. We require a lot of foreign investment in our infrastructure side. The deal will also reaffirm investor confidence in the India (growth) story."
29/07/13 IANS/Daily News & Analysis
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The deal was cleared by the FIPB Monday. Now the deal will go to the Cabinet Committee on Economic Affairs (CCEA) for final approval.
"The step will instill confidence in the airlines industry in India. It particularly benefits both the partners and in general improves the prevailing investment climate in the country," said Rajiv Chib, associate director, PricewaterhouseCoopers.
Civil Aviation Minister Ajit Singh said: "The deal is good for passengers and the civil aviation sector. We require a lot of foreign investment in our infrastructure side. The deal will also reaffirm investor confidence in the India (growth) story."
29/07/13 IANS/Daily News & Analysis
