Government scraps control over plane purchases by local carriers

NEW DELHI Thu Mar 21, 2013 4:21pm IST

A passenger aircraft is silhouetted against the rising sun after taking off from New Delhi's Indira Gandhi International Airport April 3, 2012. REUTERS/B Mathur/Files

A passenger aircraft is silhouetted against the rising sun after taking off from New Delhi's Indira Gandhi International Airport April 3, 2012.

Credit: Reuters/B Mathur/Files

Related Topics

Stocks

   

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)

FILED UNDER:

Reuters Showcase

Uber's Woes

Uber's Woes

Uber, other taxi-hailing apps hit new roadblock in Delhi.  Full Article 

Transfer Pricing

Transfer Pricing

India's Vodafone decision eases tax worries for Shell, others.  Full Article 

Facebook Earnings

Facebook Earnings

Facebook tops Wall Street revenue target in 4th quarter.  Full Article 

Governance Reforms

Governance Reforms

IMF sets June deadline for progress on governance reforms.  Full Article 

Fed's Stance

Fed's Stance

Fed upbeat on U.S. economy, cites strong job gains.  Full Article 

Tumultuous Run

Tumultuous Run

McDonald's CEO Don Thompson leaving.  Full Article 

Samsung Results

Samsung Results

Samsung Elec's smartphone primacy under threat from Apple after weak Q4.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage