Civil Aviation Minister Praful Patel said that the government is still going through the proposal to allow the foreign airlines to buy stake in domestic carriers. The minister commented on the media speculation that the Centre is expected to allow overseas carriers to acquire up to 26% stake in Indian airlines. Foreign companies other than the foreign carrier can buy 49% stake under the automatic route. The airline sector can further receive up to 100% investment from Non-resident Indians (NRIs).
There is news that Kingfisher Airlines is willing to sell up to 26% stake to an overseas airline company provided the Government gives a nod. Another private airline, SpiceJet has also shown interest in selling a small stake to foreign carriers. On the other hand foreign carriers such as Singapore Airlines, Virgin Atlantic and others are interested to invest in India carriers. According to Airbus estimates the Indian aviation industry is expected to grow nine-fold in the next two decades.
There is news that Kingfisher Airlines is willing to sell up to 26% stake to an overseas airline company provided the Government gives a nod. Another private airline, SpiceJet has also shown interest in selling a small stake to foreign carriers. On the other hand foreign carriers such as Singapore Airlines, Virgin Atlantic and others are interested to invest in India carriers. According to Airbus estimates the Indian aviation industry is expected to grow nine-fold in the next two decades.
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