The aviation minister will be moving a cabinet note today seeking 49% FDI by foreign carriers in domestic airlines. The Group of Ministers will also take up the issue of direct ATF imports and discuss plans to revive the aviation sector. Meanwhile, Jet Airways is up 11% and Kingfisher up close 9%.
CNBC-TV18 catches up with GR Gopinath, managing director of Deccan Charter and Giorgio De Roni, chief executive officer of Go-Air to get a low-down of their expectations. Below is the edited transcript of the interview. Also watch the accompanying video. Q: Just to start off with your preliminary thoughts on this cabinet note on 49% in FDI, whether you think there are many international takers right now for a stake in Indian aviation companies? Gopinath: I think it is a good move. It should have been done long ago, but because of internal lobbying against it, it was stalled. As you know in India, for long, no rules were made keeping individual airlines in mind. We made rules for Air India first, then we made rules for Jet Airways. Now it appears it was made or triggered by the Kingfisher crisis. Though I do not know how much it will help Kingfisher itself per se, it is definitely good for aviation because more investments will come in, more aircrafts, more capacity
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