Airline shares up on hopes of FDI by foreign carriers
   
Quotes

Airline shares up on hopes of FDI by foreign carriers

Last Updated: Wednesday, January 18, 2012, 10:11
 
 Comment 0
 
Airline shares up on hopes of FDI by foreign carriers
Mumbai: Shares of Indian carriers surged in early trades on Wednesday, after the aviation ministry said it would recommend that the government allow foreign airlines to buy stakes of up to 49 percent in Indian airlines.

At early trade, Jet Airways was up 6.22 percent at Rs 249.55, Kingfisher Airlines up 5.98 percent at Rs 26.60 and SpiceJet up 7.38 percent at Rs 24.

India currently bars foreign airlines from buying into Indian carriers, although foreign investors are allowed to hold a cumulative 49 percent.

India's loss-making airlines are grappling with high jet fuel prices, low fares, and an economic slowdown. A government decision that is widely expected to open up the sector to foreign carriers would be a lifeline to domestic carriers.

Bureau Report




First Published: Wednesday, January 18, 2012, 10:11


Comments


comments powered by Disqus
Ford Figo Aspire
Ford Figo Aspire
Samsung Galaxy S6 Edge Plus, Note 5
Samsung Galaxy S6 Edge Plus, Note 5
Maruti Suzuki S-Cross
Maruti Suzuki S-Cross
Mahindra New Thar CRDe
Mahindra New Thar CRDe
New Generation Scorpio
New Generation Scorpio

Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved