Manufacturing Industry
India may drop foreign airline investment ban
Airline Industry Information, Nov 2, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
The Indian government's ban on foreign airlines investing in domestic airlines may not be permanent according to the country's Aviation Minister Praful Patel.
Patel said that once domestic airlines had strengthened in the aviation market then the ban could be reviewed, possibly in two years' time. Currently only foreign companies with no controlling interest in foreign airlines are allowed to invest in Indian carriers and even then they are restricted to buying a 49% stake.
The ban has been seen as a bar on global interest in a rapidly expanding market but Patel claimed that domestic airlines would not be able to compete if foreign airlines were allowed to invest at the present time, reported Reuters.
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