As per extant FDI policy, as
contained in paragraph 6.2.9 of ‘Circular 1 of 2012 - Consolidated FDI Policy’, FDI is permitted
in Air Transport Services, including Domestic Scheduled
Passenger Airlines, Non-Scheduled Air Transport Services, helicopter and
seaplane services, subject to the following conditions:
No foreign airlines would be allowed to participate directly or
indirectly in the equity of an Air Transport Undertaking engaged in operating
Scheduled and Non-Scheduled Air Transport Services except Cargo airlines.
Foreign airlines are allowed to participate in the equity of
companies operating Cargo airlines, helicopter and seaplane services.
The level of FDI permitted in the aforesaid activities under Air
Transport Services is as follows:
|
Sector/Activity
|
% of FDI Cap/
Equity
|
Entry Route
|
|
(1) Scheduled
Air Transport Services/ Domestic Scheduled Passenger Airlines
|
|
Automatic
|
|
(2)
Non-Scheduled Air Transport Services
|
74% FDI
(100% for NRIs)
|
Automatic up to
49%
Government route
beyond 49% and up to 74%
|
|
(3) Helicopter services/ seaplane services requiring DGCA approval
|
100%
|
Automatic
|
The
Foreign Investment Promotion Board (FIPB) has issued approval dated 2.12.2008
to M/s Spicejet Ltd., New Delhi, to receive foreign
investment from M/s GS Investment Partners (Mauritius) I Limited and/ or GS
Investment Partners (Mauritius) II Limited, both owned by M/s Goldman Sachs
Investment Partners Masters Fund, L.P.
This
information was given by Minister of State for Commerce and Industry, Shri Jyotiraditya M. Scindia in a written reply to a question raised in the Lok Sabha today.
DS/GK