KINGFISHER, SPICEJET, JET AIRWAYS RALLY ON FDI IN AVIATION
Mumbai,India : Shares of aviation companies, which have been rallying in anticipation of foreign direct investment, extended gains on Monday after the Prime Minister Manmohan Singh took bold reform measures by allowing foreign airlines to buy stakes of up to 49 per cent in local carriers.
"By allowing FDI from foreign carriers, the government has opened up new avenues for fund raising by domestic carriers who are currently finding it tough to raise money from banks," said an ICICI Securities report.
The report added that the bold measures would help these companies over the longer term after the other fundamental issues affecting the sector are addressed.
17/09/2012 : The Economic Times.
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