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Three air cargo companies eye Indian expansion
NEW DELHI, Feb 25 (WorldACD) - Three international air cargo companies — FedEx, Malaysia Airlines (MAS) and Australia-based HeavyLift Cargo Airlines — have approached the ministry of civil aviation seeking details on setting up and expanding their operations in India.
The three freighter service providers have sought clarification on the recent Cabinet decision to increase the foreign direct investment (FDI) cap from 49 percent to 74 percent in the air cargo sector.
When the Economic Times contacted FedEx, the official spokesperson declined to comment. “As a matter if policy, we don’t comment on corporate developments,” the spokesperson told ET. Currently, there exist only 12 aircraft dedicated to freighter services in India.
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