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Govt may allow foreign airlines to invest in local carriers

Govt may allow foreign airlines to invest in local carriers
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First Published: Mon, Oct 24 2011. 12 13 PM IST

Updated: Mon, Oct 24 2011. 12 13 PM IST
New Delhi: The government is likely to approve a plan to allow foreign airlines to buy stakes in Indian carriers, industry secretary told Reuters on Monday.
“It is likely to happen,” R.P. Singh told Reuters over the phone, when asked if a proposal to allow global airlines to invest in Indian counterparts would be approved by the government.
India allows foreign investment of up to 49% in Indian carriers, but foreign airlines are not allowed to invest directly or indirectly in domestic carriers.
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First Published: Mon, Oct 24 2011. 12 13 PM IST
More Topics: FDI | Airlines | Aviation | Stake sale | Carriers |