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Amid differences among Government’s allies, the Cabinet may consider relaxing the norms on foreign direct investment (FDI) in aviation on Friday. “Although the proposal related with FDI in aviation does not figure in the agenda list circulated till Wednesday, one cannot rule out the possibility of a supplementary agenda being moved as the meeting is on Friday and that too in the early evening,” a highly placed Government source said.
Current FDI norms allow any entity other than foreign airlines (directly or indirectly) to take equity stake of up to 49 per cent in domestic scheduled airlines. Now the plan is to allow foreign airlines also to pick up equity of up to 49 per cent. Such a move is expected to bring much-needed relief to loss-making airlines such as Kingfisher.
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