Foreign investment cap of 49 pct in India airlines includes FDI, FII

NEW DELHI, Sept 14 Fri Sep 14, 2012 8:55am EDT

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NEW DELHI, Sept 14 (Reuters) - India's foreign investment limit of 49 percent in local airlines includes both foreign instuitional investments and foreign direct investment, according to a government document seen by Reuters.

India on Friday allowed foreign airlines to buy stakes of up to 49 percent in local carriers, in a much-awaited policy move that provides a potential lifeline to the country's debt-laden airlines by opening up a fresh source of funding. (Reporting by Rajesh Kumar Singh; Editing by Sunil Nair)