Liquor baron-turned-aviation tycoon Vijay Mallya today said he has received several enquiries from global carriers for a stake in his Kingfisher Airlines.
However, he would be allowed to proceed only if the government permits foreign airlines to pick stake by changing the existing policy, official sources said.
"I have received several Expressions of Interest from foreign airlines as the Kingfisher network is unparalleled. However, I cannot give details," Mallya said in a statement, but industry sources indicated that talks between Kingfisher and foreign carriers were exploratory in nature.
As per the present policy, foreign carriers are not allowed to pick stake in Indian airlines. However, the government allows FDI up to 100% in other areas of the aviation sector, 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 mn to come out of the red.
Mallya, who has been a big votary of large-scale liberalisation of the aviation sector, has written to the government to permit foreign carriers to pick at least one-fourth of the stake in Indian carriers.
"I have requested the government to allow foreign airlines to acquire up to 25% in Indian carriers as I believe aviation should be treated as per international norms," he said.
On the possibility of allowing more private and foreign investment in the aviation sector, Cabinet Secretary K M Chandrasekhar recently told PTI that there was no such plan in the immediate future.
