The government is considering amending a rule to allow overseas control of local airlines, according to a person familiar with the matter, which may help indebted national carrier Air India lure a foreign suitor after multiple failed attempts for a sale.
At a meeting in early November, the department for promotion of industry and internal trade asked the aviation ministry if it would be feasible to change the so-called “substantial ownership and effective control” clause, the person said, asking not to be identified as the details aren’t public.
