IATA asks India to allow stake for foreign airlines

12/15/2008 10:06:06 AM

India is being requested by the International Air Transport Association (IATA) to review its policy of not allowing foreign airlines to pick up a stake in domestic airlines, the Business Line reported.   At the moment, the Indian Government does not allow any direct or indirect participation by foreign airlines in domestic airlines.   This, however, was not the case earlier and till the early 1990s foreign airlines were allowed to invest in domestic airlines.   The change in Government policy at that time saw the promoter of Jet Airways, Naresh Goyal, buy back the stake that at least four international airlines including Kuwait Airways had in his airline.   CargoNewsAsia

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