Financial Daily from THE HINDU group of publications
Wednesday, Dec 10, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 10, 2003 |
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Airlines Logistics - Airlines Aviation report enthuses SIA, British Airways — Emirates not interested Ashwini Phadnis
New Delhi , Dec. 9 THE recommendations of the Naresh Chandra Committee report proposing a 49 per cent stake for international airlines in the domestic aviation sector is creating some amount of interest in Singapore and London. On the contrary, in Dubai, it's a definite `no'. "We have always been interested in various markets, including India. We will most definitely keep our options open. However, it is too early and premature for us to comment on specifics till at least the proposal is cleared by the Government," a spokesperson of Singapore Airlines (SIA) told Business Line from Singapore. Likewise, the General Manager, South Asia, British Airways, Mr Andy Stern, said that although the airline had seen the reports on foreign direct investment (FDI) and other aspects of the committee report "with a lot of interest", it is likely to formalise things only when the civil aviation policy is released. However, a spokesperson for the Dubai-based Emirates airlines denied any interest in taking a stake in an airline in India. "Emirates airlines does not have any interest in taking an ownership, participation or shares in any airlines and that includes Indian Airlines. We have a 43.6 per cent ownership in Srilankan airlines and currently, that is our only participation in any airlines. We have no plans to change that," an airline spokesman said from Dubai. The committee report, which was submitted to the Ministry of Civil Aviation on Monday, has to be approved by the Union Cabinet before it can be implemented. The committee has said that as regards investment by foreign airlines, investment up to 49 per cent may be allowed with the approval of the Foreign Investment Promotion Board. SIA had earlier tied up with the Tatas to set up an airline in India and was the lone suitor left in the race for picking up a stake in Air India when the divestment process was on.
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