The Indian government has announced that non-resident Indians (NRIs) would be permitted to own up to a 100 per cent stake in the struggling national airline.
The government is keen to offload its stake in Air India, which has been in the red for many years.
According to news agency PTI, allowing NRIs to own 100 per cent of the carrier would be treated as a domestic investment and therefore satisfy the SOEC framework, which requires certain carriers to be substantially owned by that country’s government or its nationals.
Vistara – the Tata-Singapore Airlines joint venture airline – is said to be considering a take-over bid.
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