Aviation FDI Decision In Next Few Weeks

The issue of allowing foreign airlines to buy up to 49 per cent stake in Indian carriers, mostly cash-starved, is likely to come up before the Union Cabinet in the next few weeks, official sources said today.

While the Ministries of Finance and Civil Aviation have already approved the proposal to amend the FDI guidelines for the aviation sector, some other ministries are yet to give their nod, they said.

The Commerce Ministry had moved a Cabinet note in this regard a few weeks ago to allow foreign carriers pick up equity of up to 49 per cent in their Indian counterparts.

From: http://ping.fm/kSYzo