Govt may allow foreign airlines stake in domestic carriers
7th Nov, 09, Business Line
The issue of allowing foreign airlines to pick ip a stake in domestic airlines is likely to be considered by the Committee of Secretaries at its meeting here on November 17.
The Ministry of Civil Aviation has indicated that it was “open” to allowing foreign airlines to acquire a 25 per cent stake from the existing 49 per cent cap. At the moment foreign airlines are not allowed to hold a direct or indirect stake in domestic airlines.
The Government earlier allowed foreign airlines to pick up a stake in domestic airlines. However, the policy was reserved in 1996 and some foreign airlines, including Kuwait Airways, which has a share in Jet Airways, sold their stake.
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