Virgin Atlantic interested in Indian carriers

Mumbai: Richard Branson-promoted Virgin Atlantic Airways is interested in investing in the Indian civil aviation sector once the Union government relaxes regulations for foreign airlines to pick up stake in domestic carriers.
The company is looking at picking up stake in domestic budget carriers.
Virgin planned to pick up stake in Air Deccan and Richard Branson had discussions with the airline CMD G R Gopinath but the talks remained unfruitful due to civil aviation policy guidelines.
According to civil aviation policy guidelines, no foreign airlines are allowed to buy stake in Indian carriers. "But the policy allows Richard Branson as an individual to invest in Indian carriers as the government allows FII up to 49 per cent in the aviation sector," market sources said.
Virgin clarified that Branson was not interested in investing in Air Deccan in his individual capacity.
The airline is considering operating direct flights from Chennai, Hyderabad and Bangalore to London. Meanwhile, it will be increasing its number of flights to Mumbai and New Delhi.
09/05/06 PTI/Sify

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