Money briefs: Easing overseas flight rules for Indian carriers?

Easing overseas flight rules for Indian carriers?

NEW DELHI • India is planning to ease rules for domestic airlines to start international flights, a move that will benefit the local affiliates of Singapore Airlines and AirAsia, three people familiar with the process said. Under new rules, local carriers won't have to wait for at least five years to qualify for an overseas permit, the people said. A change will enable carriers to start flying overseas immediately if they meet the minimum fleet requirement, while dealing a blow to airlines such as market leaders IndiGo and SpiceJet, which had previously opposed such a relaxation.

Singapore Air started flying domestic flights in India through a joint venture known as Vistara. AirAsia, the region's biggest discount carrier, began domestic Indian flights in June 2014.


Plan for dual listing in Saudi oil giant's IPO

RIYADH • Saudi Arabia is considering a dual listing as a way to reach investors beyond the local stock market for the sale of shares in state-owned oil giant Aramco, which could be the world's largest initial public offering, the kingdom's deputy crown prince Mohammed bin Salman said.

The sale of less than 5 per cent of Aramco shares is a key part of a broader plan to cut the country's dependence on oil. 

BLOOMBERG


Thai exports beat forecasts to rise 1.3%

BANGKOK • Thailand's exports rose again in March from a year earlier, government data showed yesterday, contrary to market expectations of a decline.

Exports rose 1.3 per cent, driven by gold, cars and machinery, Customs data showed. Shipments to all major markets fell, but exports to South-east Asian countries rose 4.5 per cent.

REUTERS

A version of this article appeared in the print edition of The Straits Times on April 26, 2016, with the headline 'Money briefs: Easing overseas flight rules for Indian carriers?'. Print Edition | Subscribe