India is open to further reforms to lure overseas investors into its airlines, a government source said, after a dearth of interest following changes to investment rules left Kingfisher and others still short of much-needed funds. The aviation ministry will meet local carriers soon to ask what changes were needed in the policy, added the source, with direct knowledge of policy developments.
India changed its Foreign Direct Investment (FDI) policy in September to allow foreign carriers to buy stakes of up to 49 percent in domestic airlines, a move seen as a potential boon especially for debt-laden Kingfisher Airlines Ltd.
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