Govt to allow 100% FDI in seaplane, helicopter services

Mumbai: Civil Aviation Minister Praful Patel said his ministry had on Friday recommended that the government allow 100 per cent foreign direct investment (FDI) in seaplane and helicopter services.
Patel also announced that 74 per cent FDI would be allowed for cargo operations and “non-scheduled operators”, like charters. He has also recommended 100 per cent FDI for maintenance services.
Patel said there were only six Indian-owned cargo planes. Big international cargo companies like UPS and Fed Ex have 500 to 600 planes. To tap the opportunity, Jet Airways and the Deccan Chronicle Group are starting new cargo carriers, while Indian and Air India are expanding their cargo operations.
03/02/07 Ranju Sarkar/Hindustan Times

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Categories: General Aviation feb 2007, helicopter feb 2007, New feb 2007