The government is willing to consider relaxing the foreign equity cap in Air-India (A-I) thus paving the way for Singapore Airlines (SIA) to hike its stake in the national carrier to 49 per cent at a later stage. Foreign equity in the aviation sector is currently limited to 26 per cent.
Speaking to newspersons today, disinvestment secretary Pradip Baijal said SIA had asked the government to allow the company to increase its stake to 49 per cent in A-I in case the government or the employees were not in a position to subscribe to their portion of a rights issue meant to raise equity capital in the airline.
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