Network 18 learns that the Ministry of Civil Aviation has prepared a Cabinet note that advocates a change in the decade old "five-twenty" rule the governs overseas flying operations.
Start-up domestic airlines may soon be allowed to begin international operations within a year of their launch.
Network 18 learns that the Ministry of Civil Aviation has prepared a Cabinet note that advocates a change in the decade old "five-twenty" rule the governs overseas flying operations.
According to this rule air carriers need to be in operation for 5 years and have a fleet of at least 20 aircraft before getting permission to fly abroad. Ministry officials say there has been intense pressure from incumbent airlines to retain the rule in its current form without making too many changes.
Air India, IndiGo, GoAir, SpiceJet and Jet Airways are lobbying against dilution of present guidelines to ward off fresh competition on international routes.
If the norms are relaxed, startup airlines Vistara and AirAsia India will benefit. Vistara will be able to partner Singapore Airlines while AirAsia can feed into Malaysian parent AirAsia BHd's network to build their overseas connectivity. A decision is expected later this week.
SpiceJet stock price
On November 05, 2014, SpiceJet closed at Rs 15.91, up Rs 1.04, or 6.99 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.
The latest book value of the company is Rs -19.67 per share. At current value, the price-to-book value of the company was -0.81.
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