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TMI BlogReview of the policy on Foreign Direct Investment in the Civil Aviation sectorX X X X Extracts X X X X X X X X Extracts X X X X ..... 2.9.3 of 'Circular 1 of 20 12-Consolidated FDI Policy', effective from April 10, 2012, relating to air transport services, presently reads as below: 6.2.9.3 Air Transport Services (a) Air Transport Services would include Domestic Scheduled Passenger Airlines; Non-Scheduled Air Transport Services, helicopter and seaplane services. (b) No foreign airlines would be allowed to participate directly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... perating scheduled and nonscheduled air transport services, up to the limit of 49% of their paid-up capital. 2.2 Such investment would be subject to the following conditions: (i) It would be made under the Government approval route. (ii) The 49% limit will subsume FDI and FII investment. (iii)The investments so made would need to comply with the relevant regulations of SEBI, such as the Issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch investment shall require clearance from the relevant authority in the Ministry of Civil Aviation. 2.3 The above revised policy is not applicable to Air India. 3.0 Amendment to paragraph 6.2.9.3: 3.1 Accordingly, paragraph 6.2.9.3 of 'Circular 1 of 2012-Consolidated FDI Policy', effective from April 10,2012, is amended, as below: 6.2.9.3 Air Transport Services (1) Scheduled Air Transport S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d air transport services, up to the limit of 49% of their paid-up capital. Such investment would be subject to the following conditions: (i) It would be made under the Government approval route. (ii) The 49% limit will subsume FDI and FII investment. (iii) The investments so made would need to comply with the relevant regulations of SEBI, such as the Issue of Capital and Disclosure Requirements ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e from the relevant authority in the Ministry of Civil Aviation. Note: The FDI limits/entry routes, mentioned at paragraph 6.2.9.3 (1) and 6.2.9.3 (2) above, are applicable in the situation where there is no investment by foreign airlines. (d) The policy mentioned at (c) above is not applicable to M/s Air India Limited. 4.0 The above decision will take immediate effect. (Anjali Prasad) Joint ..... X X X X Extracts X X X X X X X X Extracts X X X X
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