Group of Ministers to meet on FDI, ATF import, Air India this week

In a bid to safeguard the interests of the ailing aviation sector, a Group of Ministers (GoM) will meet later this week to give the final touches to the proposal for allowing investments in Indian carriers by foreign airlines, direct import of jet fuel by Indian carriers and Air India's financial restructuring plan. The GoM meet on Thursday may also decide on the investment cap by foreign airlines for buying equity in Indian carriers, official sources said, according to a report by PTI.

The GoM is also likely to take a decision on allowing Indian airlines directly import aviation turbine fuel to get some breather from the high sales tax regime imposed by state governments. During the meeting, cash-strapped Air India's financial restructuring plan and turnaround plan would come up for a review and a decision on injecting additional equity into the national carrier is likely to be taken. The debt-ridden carrier has outstanding loans and dues worth Rs 67,520 crore.