New Delhi: Kingfisher Airlines owner Vijay Mallya wants the curb on foreign shareholding in Indian airlines lifted to enable him to sell a stake in his company to international carriers.
"Kingfisher can't sell 25 per cent to any airline until the government permits it. That does not stop people from expressing interest," he said on Monday.
Allowing foreign airlines and strategic investors to hold up to 25 per cent stake in Indian airlines is among the many demands submitted to the government by the Federation of Indian Airlines, Mallya said.
"This is because they (carriers) will value much better and in a more fair manner than a pure equity investor."
He, however, refused to share details on which airline has approached him. "I have received several expressions of interest from foreign airlines as the Kingfisher network is unparalleled. However, I cannot give details."
"I have requested the government to allow foreign airlines to acquire up to 25 per cent... as I believe aviation should be treated as per international norms," he said.
The current policy allows FDI up to 100 per cent in other areas of aviation like developing of greenfield airports or in cargo and maintenance, repair and overhaul facilities.
Kingfisher last month joined hands with Jet Airways to drastically reduce operational costs by sharing engineering, ticketing, ground handling and other services and both are trying to raise about $400 million to come out of the red.
On allowing foreign investment in the sector, Cabinet Secretary K M Chandrasekhar had recently told PTI that there was no such plan in the immediate future.
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