Freeing the skies

In less than a month of taking charge as Union civil aviation minister, Ajit Singh has proposed permitting foreign airlines acquire up to 49 per cent stake in domestic carriers. At present, while foreign direct investment up to 49 per cent is allowed, foreign airlines are barred from holding equity in Indian carriers. The move, earlier stalled by Ajit Singh’s predecessor Vayalar Ravi, will help some of the cash-starved Indian airlines such as Kingfisher raise capital.

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