INDIA: India not likely to OK foreign investment

The Indian government is unlikely to allow foreign airlines to directly buy stakes in local carriers before the upcoming federal elections, Dow Jonesreported. Indian carriers, like Kingfisher Airlines and SpiceJet, have urged the government to allow them to sell stakes to raise funds with foreign carriers including British Airways and Virgin Airways having expressed interest […]


The Indian government is unlikely to allow foreign airlines to directly buy stakes in local carriers before the upcoming federal elections, Dow Jonesreported.

Indian carriers, like Kingfisher Airlines and SpiceJet, have urged the government to allow them to sell stakes to raise funds with foreign carriers including British Airways and Virgin Airways having expressed interest in investing in India’s growing aviation sector.

The finance ministry official’s comments follow a recent Economic Times report which said British Airways is looking to buy a 25 per cent stake in low-fare carrier Go Airlines, which operates under the brand name GoAir and is part of Indian industrial conglomerate Wadia Group.