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
U.S. President Barack Obama and Indian Prime Minister Narendra Modi on Tuesday plan to discuss issues ranging from manufacturing to sanitation as the two leaders aim to deepen ties. Story | Full Coverage
China final HSBC PMI steady in September on stronger global demand but risks remain Full Article