India Gives Nod to 49 percent Foreign Ownership of Air India | Aviation International News

India Gives Nod to 49 percent Foreign Ownership of Air India

Lifts foreign ownership prohibition in an effort to resurrect fortunes of ailing flag carrier

The Indian government hopes direct foreign investment in Air India will help lift the sagging fortunes of the ailing airline. (Photo: Neelam Mathews)

By Neelam Mathews

January 11, 2018

Following a decision to divest a stake in the state-held national airline Air India last year, the government announced on January 10 that it would allow foreign direct investment (FDI) of up to 49 percent in the carrier in an effort to woo global suitors. Though foreign airlines could own up to 49 percent in other Indian airlines, until now the government prohibited any such investment in Air India. The directive makes clear that “effective control of Air India shall continue to be vested in an Indian national.” A foreign stakeholder may not occupy a board seat or exercise any control over major decisions relating to the airline.

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