NEW DELHI—India has approved 49% foreign direct investment in Air India, increasing the prospect of its successful strategic disinvestment. Foreign airlines currently are allowed to own up to 49% in an Indian airline, with the exception of Air India. “That restriction has now been lifted by the federal Cabinet,” a senior government official said.
Devi Prasad Karnik, director of public relations at the Indian Space Research Organization (ISRO), did not characterize the change in schedule as a delay. “The earlier stated launch date of January 10 was merely tentative,” he said.
