Patel against cartelization of airlines

New Delhi, Feb.11 (ANI): Civil Aviation Minister Praful Patel on Wednesday came out strongly against reports of cartelization amongst airlines.

"The Ministry is against any cartelization amongst airlines. We will keep watch and take strict action in any such case. The national carrier Air India will never be a part of it and will ensure that competitive pricing ensures better prices to the passengers. Air India shall act as a counter with better pricing and competitive fares," Patel said.

Meanwhile, the Government today approved the handing over of the Dr. Babasaheb Ambedkar International Airport in Nagpur to a Joint Venture Company (JVC) comprising of Airports Authority of India (AAI) and Maharashtra Airport Development Company (MADC) Ltd., with 49 percent and 51 percent equity respectively.

Under the proposed JV, the airport will be upgraded to a world class multi-nodal international passenger and cargo hub in accordance with the MoU signed on December 18, 2006.

The AAI has been permitted to invest an amount of Rs. 4.90 crores in the equity of the JVC.

AAI will hand over all assets to MADC by February 28, 2009. (ANI)