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This is an archive article published on February 25, 2005

Private carriers can now fly to France, beyond

Taking forward the government decision to allow private airlines like Jet Airways and Air Sahara to fly abroad, India has amended its air bi...

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Taking forward the government decision to allow private airlines like Jet Airways and Air Sahara to fly abroad, India has amended its air bilateral agreement with France so that these carriers can also operate to destinations there.

The revised agreement also caters to fifth freedom rights that allows these airlines to go beyond France. This means that Indian carriers can now operate to New York and four other points in the US as well as to Montreal and Toronto with a stopover in France.

India has already finalised the conditions for an open skies agreement with the US and nearly doubled its entitlements with the UK. Jet already has plans to mount services to the US via Brussels. The number of bilateral entitlements with France has risen from 14 to 35 a week under this agreement. The two sides signed the revised agreement in Paris on Wednesday, which also allows Indian carriers to fly to more destinations in France.

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India has increased the number of points of call for French carriers to include Bangalore and Hyderabad. Till now, French airlines could only fly to Delhi, Kolkata, Mumbai and Chennai. The French government also agreed to assist Air India to get additional landing slots at the Charles de Gaulle airport in Paris. The Indian delegation at the bilateral talks was led by Civil Aviation Secretary Ajai Prasad and comprised Director General Civil Aviation Satinder Singh, and Air India CMD V. Thulasidas.

India and US are to sign the open skies agreement, finalised during Civil Aviation Minister Praful Patel’s visit last month.

Jet Airways IPO gets $ 7 billion response

MUMBAI: The Jet Airways IPO which closed on Thursday was oversubscribed 15 times with the issue evoking bids worth $7 billion. The quota for qualified institutional buyers (QIBs) was oversubscribed 22 times while the retail portion was sold 3.5 times. The IPO got 260 million bids with 99 per cent of the bids coming at Rs 1,125. — ENS

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