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India allows foreign investors to own up to 49 percent of Air India

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India cleared a proposal on Wednesday to allow foreign investors to own up to a 49 percent stake in state-run carrier Air India, paving the way for global airlines to bid for the loss-making flagship carrier.It brings Air India, which previously had to be fully locally owned, in line with the country's other local airlines in which foreign investment is allowed.India allows 100 percent foreign investment in its other local airlines, but caps foreign airlines' stake at 49 percent. In Air India, it will now allow a maximum of 49 percent foreign ownership including that by ...

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First Published: Wed, January 10 2018. 16:03 IST