Backing the government?s move to consider opening up of the aviation sector for foreign airlines, Jet airways chairman Naresh Goyal on Thursday said?Jet Airways does not need foreign investment.??We do not need any? FDI. We are doing fine. But we welcome the move,? Naresh Goyal said .
The government is considering a proposal to allow foreign airlines to pick?up up to 49% equity in domestic carriers to help the cash strapped sector. Earlier,?the department of industrial policy and promotion (DIPP) had mooted a draft cabinet note to allow 26% stake to be picked by foreign airlines in Indian carriers, but considering the crisis in the industry, the civil aviation minister
Ajit Singh had proposed a 49% cap. A top DIPP official told FE that civil aviation ministry is yet to write to the department on this issue and a decision is expected only after the elections.