(PTI)
Permitting 49 per cent foreign direct investment in Air India brings the airline at par with other domestic carriers and does away with the preferential treatment that was extended to the national carrier, Civil Aviation Minster Ashok Gajapathi Raju said today.
The Union Cabinet has decided to allow foreign investments, including from foreign airlines, to upto 49 per cent in Air India, provided that substantial ownership and effective control of the airline is vested in an Indian national.
“(The Cabinet decision means) Air India is on par with other airlines within the country. So, in a way it is not a differential treatment, rather the preference that was there (has been done away with),” Raju told PTI shortly after the government announced the move.
