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    HomeNewsBusinessWire NewsAirline stocks up on reports saying FDI in sector soon

    Airline stocks up on reports saying FDI in sector soon

    AIRLINE-SHARES-RISE-ON-FDI-REPORTS:Airline shares rise on FDI reports

    July 12, 2012 / 15:32 IST
       
       
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      Shares of Kingfisher Airlines and SpiceJet gained 2% and 3.4% respectively on media reports that the government is considering relief measures for the industry post the presidential elections later this month. The Presidential election will be over with the counting of votes, scheduled for July 21.


      Media reports state that the government is considering a relaxation of FDI regulations in the industry -- which currently cap foreign investments at 49% -- and taxation of aviation turbine fuel, citing a senior government official.


      Also, the cabinet is looking into the issue of allowing FDI in the ailing aviation sector and is in consultation with the Ministries of Civil Aviation, Petroleum and Finance, Department of Industrial Policy and Promotion (DIPP) among others.


      Meanwhile, KFA and SpiceJet among other carriers have indicated that they are open to strategic tie-ups once the FDI proposal is cleared by the government.


       

       


       

      first published: Jul 12, 2012 12:42 pm

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