The TATA Group, which holds stakes in two Indian carriers including a
majority in the soon to be launched Vistara, has asked the government to
reconsider a rule that bars airlines investing in the Navi Mumbai
international airport project from holding a board seat.
The aviation ministry recently allowed the Navi Mumbai airport, to be built through PPP, to raise 26% of its equity from airlines against the 10% allowed in PPP airports.
TATA’s have argued that any airline or its associate that would infuse capital investment of INR 19,000 crore or more would want to secure its investment.
Mr Sanjay Ubale, MD and CEO, TATA Realty and Infrastructure Ltd, said that “We request you to consider allowing at least associate companies of scheduled airlines or cargo airlines to appoint directors on the board in proportion to their equity.”
An aviation ministry official said that “This clearly shows they are interested in investing in the project.”
REad news in full 19/08/14 Steel Guru
The aviation ministry recently allowed the Navi Mumbai airport, to be built through PPP, to raise 26% of its equity from airlines against the 10% allowed in PPP airports.
TATA’s have argued that any airline or its associate that would infuse capital investment of INR 19,000 crore or more would want to secure its investment.
Mr Sanjay Ubale, MD and CEO, TATA Realty and Infrastructure Ltd, said that “We request you to consider allowing at least associate companies of scheduled airlines or cargo airlines to appoint directors on the board in proportion to their equity.”
An aviation ministry official said that “This clearly shows they are interested in investing in the project.”
REad news in full 19/08/14 Steel Guru
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