Aviation Minister Ajit Singh is expected to soon initiate fresh talks with the key UPA allies and Trinamool Congress and DMK on foreign direct investment (FDI) in aviation sector.
The Trinamool Congress will support the central government’s initiative of inviting foreign direct investment (FDI) in civil aviation if the latter completes modernisation of the Kolkata airport before the Puja season in October.
Top government sources in Delhi
According to airport officials, modernisation work at Kolkata airport is likely to be completed by July, while it will take another two months to make the new airport operational.
FDI nod is highly awaited by the Indian carriers that are continuing losses. The FDI move is expected to bring in relief for the ailing aviation industry.
Running a truncated schedule, debt-laden KFA had posted 10 straight quarterly losses due to high fuel costs and tough price war. Kingfisher's fourth-quarter loss widened to Rs 1,152 crore in the three months ended March 31. Losses for Jet Airways increased 140 per cent in the fourth quarter of 2011-12 to Rs 298 crore. Similarly, SpiceJet reported over four-fold rise in net loss at Rs 249 crore during the same quarter.
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http://www.thehindubusinessline.com/markets/stock-markets/article3497775.ece?ref=wl_markets
http://business-standard.com/india/news/tmc-uses-kolkata-airport-as-trade-off-for-aviation-fdi-nod/476601/
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