'Allow foreigners to pick up stake in Indian aviation'

Mumbai, Nov 17: Dr Vijay Mallya, chairman of the Kingfisher Airlines, on Monday, Nov 17 advocated that foreign airlines should be allowed to acquire upto 25 per cent stake in the Indian carriers.

A release issued by the Airlines spokesman stated, quoting Dr Mallya, ''Yes I have requested the Indian government to allow foreign airlines to acquire upto 25 per cent in Indian carriers as I believe aviation should be treated as per international norms and other industrial sectors where strategic investors can enter.'' ''This will be an enormous wealth creator and secure the future of Indian aviation,'' he said.

''I have received several expressions of interest from foreign airlines, however, I cannot give details,'' Dr Mallya said.

UNI