Tag Archives: Government

Vinay Dube joins Jet Airways as Chief Executive Officer

Vinay Dube  joins Jet Airways as its Chief Executive Officer after receipt of all requisite Government and regulatory approvals. Dube’s appointment was approved by the Jet Airways Board of Directors at their last meeting held on May 30, 2017. An accomplished industry leader and an aviation professional with close to three decades of global business experience, Dube has an established track record of leadership and business expansion at large, complex, multi-national organisations including varied roles at Delta Airlines Inc., Sabre, Inc., and American Airlines in the USA, Europe and Asia. In his last role as SVP-Asia Pacific for Delta Airlines Inc., he headed the region as Business Head with P&L responsibility and was also a Board Observer at China Eastern. During his tenure in Asia, Dube successfully led the turnaround of the Airline in the Asia Pacific markets, restructured the network, established strategic partnerships, worked extensively on brand-building and successfully brought about a transformation in the work culture of his teams. He has also held various Board-level positions throughout his career. Commenting on that appointment and subsequent approval by the Government as the airline’s CEO, Naresh Goyal, Chairman, Jet Airways, said, “Vinay will lead the Executive Management Committee to deliver on our strategic objectives, at a time when the Indian Aviation market is poised to develop manifold going forward. In our recent past, we have made demonstrable progress towards achieving long-term goals. I am confident that under Vinay’s leadership, we will accelerate the momentum of turning around the company to higher growth and profits resulting in all-round benefits to our employees as well as to our shareholders, as well as deepen our relationship with our strategic partner Etihad Airways.”

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100% FDI in airlines, Brownfield airports

The Government will now permit 100% FDI in Brownfield airport projects under automatic route, extending the earlier cap of 74 per cent. The extant FDI policy on Airports permits 100% FDI under automatic route in Greenfield Projects. As per the present FDI policy, foreign investment up to 49% was allowed under automatic route in Scheduled Air Transport Service/ Domestic Scheduled Passenger Airline and regional Air Transport Service. It has now been decided to raise this limit to 100%, with FDI up to 49% permitted under automatic route and FDI beyond 49% through Government approval. For NRIs, 100% FDI will continue to be allowed under automatic route. However, foreign airlines would continue to be allowed to invest in capital of Indian companies operating scheduled and non-scheduled air-transport services up to the limit of 49% of their paid up capital and subject to the laid down conditions in the existing policy. The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi.

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