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)
- Tweet this
- Share this
- Digg this
The Nifty surged past the psychologically important 8,000 level for the first time on Monday as blue-chips such as ICICI Bank gained after better-than-expected quarterly economic growth data. Full Article
Government urges Supreme Court to not cancel some 'illegal' coal mines Full Article