Tuesday, September 25, 2012

NEWS | Foreign airlines on 'wait-and-watch' mode on aviation FDI

Major foreign airlines seem to have adopted a wait-and-watch approach over the government's decision to allow them to pick up 49% stake in Indian carriers, even though the government says the mood in the industry was upbeat.
Air India has been kept out of the ambit of this major policy announcement, but there have been reports about a couple of Indian carriers holding preliminary discussions with foreign airlines to attract investment.

A day after notifying the FDI rules, Civil Aviation Minister Ajit Singh said the aviation sector was passing through a difficult phase due to the economic slowdown, but "the mood is upbeat after the government has allowed 49% FDI in domestic airlines".
However, barring Abu Dhabi-based Etihad Airways, many of the major foreign airlines have said they currently do not have plans to invest in Indian carriers.

SOURCE"http://www.dnaindia.com/money/report_foreign-airlines-on-wait-and-watch-mode-on-aviation-fdi_1744161
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