Panel for full transfer of property in aviation

New Delhi: In a move that should facilitate the eventual buyout of Air Sahara by Jet Airways and help mergers and acquisitions in the domestic airline industry, the Aircraft Acquisition Committee (AAC) of the Ministry of Civil Aviation has proposed allowing 100 per cent transfer of property including aircraft, routes, and parking bays, when one company buys out another. However, the company that acquires these will not be allowed to lease or sell these properties after acquiring them.
The committee, which includes senior officials from the Ministry and the Directorate-General of Civil Aviation (DGCA), clears proposals relating to acquisition of aircraft. The policy is likely to be announced next week after it has been cleared by the Ministry of Civil Aviation, the sources indicated.
30/03/06 Hindu Business Line

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