The Indian civil aviation sector is showing signs of revival in growth after a period of turbulence with emergence of new players such as AirAsia India and Tata-Singapore International Airlines, although domestic passenger traffic handled at Indian airports grew only by 5.2 per cent in 2013-14.
"There are also signs of revival in growth of the aviation sector with the announcement of new players like AirAsia and Tata-SIA Airline after a turbulent period of withdrawals and losses by some airlines," the pre-Budget Economic Survey said.
It further said subsequent to the government's decision to permit foreign airlines to invest up to 49 per cent in Indian scheduled air transport service operators, proposals of AirAsia and Tata-Singapore Airlines have been given no objection certificates.
In a bid to further boost the sector, the government had also revised the validity of 'in principle' approval for import of aircraft by scheduled operators to 10 years from 5 years "on account of longer delivery schedule of aircraft by manufacturers".
09/07/14 PTI/Financial Express
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"There are also signs of revival in growth of the aviation sector with the announcement of new players like AirAsia and Tata-SIA Airline after a turbulent period of withdrawals and losses by some airlines," the pre-Budget Economic Survey said.
It further said subsequent to the government's decision to permit foreign airlines to invest up to 49 per cent in Indian scheduled air transport service operators, proposals of AirAsia and Tata-Singapore Airlines have been given no objection certificates.
In a bid to further boost the sector, the government had also revised the validity of 'in principle' approval for import of aircraft by scheduled operators to 10 years from 5 years "on account of longer delivery schedule of aircraft by manufacturers".
09/07/14 PTI/Financial Express
