Mallya meets Sharma on FDI in aviation
The meeting comes in the backdrop of a government proposal seeking
permission to allow foreign carriers to pick up stake in domestic
airlines.
PTI- New Delhi,
- Updated Apr 12, 2012 3:21 PM IST
Kingfisher Airlines Chairman Vijay Mallya
Crisis-hit
Kingfisher Airlines Chairman
Vijay Mallya on Wednesday met Commerce and Industry Minister Anand Sharma.
The meeting comes in the backdrop of a government proposal seeking permission to
allow foreign carriers to pick up stake in domestic airlines .
FULL COVERAGE: How Kingfisher landed itself in this mess The Industry Ministry has circulated a Cabinet note for the same.
India now does not permit foreign airlines to buy stake in domestic airlines, although foreign investors are allowed to hold 49 per cent.
Accepting a major demand of the cash-strapped aviation industry, the government on January 17 decided to launch the process to allow foreign airlines picking 49 per cent stake in Indian carriers.
ALSO READ: Kingfisher Airlines barely managing to stay in the airAllowing foreign airlines to buy stake in domestic carriers is expected to benefit Kingfisher Airlines, which is burdened by a debt of over Rs 7,000 crore.
Kingfisher is strongly pitching for permission to allow foreign airlines to invest in domestic carriers.
PERSPECTIVE: Kingfisher's loss whose gain? Kingfisher shares closed 6.43 per cent up at Rs 19.85 today on the BSE.
Published on: Apr 11, 2012 10:36 PM IST
‘Ahead of schedule’: PM Modi says India-Russia trade to cross $100 bn before 2030 
Netflix to acquire Warner Bros. Discovery's TV, film studios, streaming division for $72 billion
'IndiGo failed to plan crew requirements': DGCA orders inquiry into airline's flight disruptions
RBI's bold rate cut signals growth focus as Budget nears
RBI cuts rates: Edelweiss AMC says short-duration debt funds offer best value now
Big RBI Move! ₹1.5 Lakh Crore Liquidity Surplus & Cheaper Loans | 78 bps Rate Drop
Historic! India Records 0.3% Inflation & 8.2% GDP Growth - A Rare Goldilocks Moment
Inflation At Record Low, Growth Outlook Strong, RBI Upgrades India’s GDP Forecast To 7.3%
PM Modi: Despite Global Crises, India–Russia Bond Stands Firm Like A Pole Star |Joint Press Briefing
Rupee at 90: RBI’s Calculated Move? Expert Explains Market Impact
Meesho IPO Day 3: Issue subscribed over 79 times on final day; check allotment date & latest GMP
Cloudflare outage briefly hits Zerodha, Groww & other services
Earnings cut cycle to resume post Q4 results, warns Aditya Khemka of InCred Asset Management 
BEML inks MoU for maritime financing after securing two orders in two days 