India needs new airline ownership rules: Kaul

Speaking at the Outlook 2007 session dedicated to the Indian Subcontinent, the Centre’s Kapil Kaul called for India to increase the 49% limitation on foreign ownership in local carriers to 74% and, moreover, must rewrite the rules prohibiting equity stakes being held by non-Indian airlines.
Highlighting the shift in thinking that has occurred in the country, the economy of which historically has been state-dominated, he pointed to his own agency. “At the new and rehabilitated airports, air traffic management and security are the only things that remain under the AAI’s purview,” he said.
Mr Kaul, who serves as CEO of the Centre’s leading Indian Subcontinent & Middle East practice, further encouraged the government to liberalise policy on foreign investment in airline training companies.
13/11/06 TravelVideo.tv (press release)

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