Government scraps control over plane purchases by local carriers
NEW DELHI (Reuters) - India has scrapped government control over the acquisition of planes by local carriers, a government statement said, removing a major bureaucratic hurdle for the country's airlines in their expansion.
Indian airlines will need 1,043 new passenger and freighter aircraft valued at $145 billion by 2030 to satisfy rising demand, Airbus (EAD.PA) said last year.
Local carriers will now require just an initial no-objection certificate to start operations and will be at liberty to induct planes without seeking approval from the ministry of civil aviation, the government statement said.
(Reporting by Anurag Kotoky; Editing by Anupama Dwivedi)
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