The Wadias don’t want the 5/20 aviation rule to be scrapped, even if it means huge losses to close friends, the Tatas
Advertisement
Advertisement
Last month, we told you how the Indian Civil aviation industry was all set to bid goodbye to the 5/20 formula. However, looks like there might be some opposition regarding this change.Apparently,
The promoters of
As per ET sources, the Wadias argued before the minister that a lot of foreign nations respect their domestic airlines and give them priority over foreign carriers, and this being a new government should know the expectations that people have.
As per the existing guidelines, only those airlines that have been flying within India for five years or have more than 20 aircraft are allowed to fly on international routes, but the civil aviation ministry is considering scrapping the rule, which would benefit two Tata Group-promoted airline companies -
Advertisement
Image source
Advertisement
- Global stocks rally even as Sensex, Nifty fall sharply on Friday
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market