Private airlines welcome govt's move on allowing FDI in aviation | Latest News India - Hindustan Times
close_game
close_game

Private airlines welcome govt's move on allowing FDI in aviation

PTI | By, Mumbai
Sep 14, 2012 10:35 PM IST

Private airline companies today welcomed the much-awaited policy change ushering in foreign direct investment (FDI) by overseas carriers, saying the policy will give a big boost to the ailing sector.

Private airline companies today welcomed the much-awaited policy change ushering in foreign direct investment (FDI) by overseas carriers, saying the policy will give a big boost to the ailing sector.

HT Image
HT Image

"The FDI in airlines will open up a wide range of opportunities for both domestic as well as foreign carriers which wish to participate in the strong growth potential for civil aviation in our country," Vijay Mallya-owned Kingfisher Airlines said in a statement here.

Hindustan Times - your fastest source for breaking news! Read now.

Expressing hope that the move will enable the carrier to re-engage with prospective investors in a more meaningful manner, it said the government decision would help the airline recapitalise and ramp up its operations.

Kingfisher Airlines chairman Vijay Mallya termed the government's decision to allow 49% FDI in airlines by foreign carriers as bold and fantastic.

"Bold decisions taken by the government. It's fantastic to restore confidence and kick start economic growth," he said on the micro-blogging site Twitter immediately after the decision.

Naresh Goyal-led from Jet Airways also welcomed the move.

"We welcome any policy (decision) initiated by the government," Jet Airways said.

Reacting to FDI in domestic airlines, founder of the low-cost airline model Captain GR Gopinath said that the move needs to be seen in its totality than only from the investment point of view.

"It is good for the industry and the common man. We need more airlines and this move will bring a number of overseas carriers to India," Gopinath said, adding the overseas players will now engage in talks with the domestic airlines more seriously.

"The government was only talking about it. But now with this bold step, some concrete proposals are expected to come through," he said.

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Mukhtar Ansari Death News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On