New Delhi: The Directorate General of Civil Aviation (DGCA) has mandated that no domestic scheduled passenger airline will enter into an agreement with foreign airlines or foreign investors which gives these foreign entities or others the right to control the management of the domestic operator on their behalf.
This comes after the Securities and Exchange Board of India (SEBI), took a relook at the Jet-Etihad deal signed by the two airlines in April 2013.
There were rumours that after Jet Airways sold a minority stake to Abu Dhabi-based Etihad Airways, it was actually calling the shots in the running of an airline in India, despite being a minority shareholder.
The DGCA revised the Civil Aviation requirement for Grant of Permit to operate Scheduled Passenger Air Transport Services after SEBI served a notice to Etihad for allegedly violating the take-over code while acquiring a stake in Jet Airways.
19/02/14 Business Line
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This comes after the Securities and Exchange Board of India (SEBI), took a relook at the Jet-Etihad deal signed by the two airlines in April 2013.
There were rumours that after Jet Airways sold a minority stake to Abu Dhabi-based Etihad Airways, it was actually calling the shots in the running of an airline in India, despite being a minority shareholder.
The DGCA revised the Civil Aviation requirement for Grant of Permit to operate Scheduled Passenger Air Transport Services after SEBI served a notice to Etihad for allegedly violating the take-over code while acquiring a stake in Jet Airways.
19/02/14 Business Line
