India will approve plans by two state-owned airlines to buy new planes only after it decides whether or not to sell part of its stakes in the carriers, the civil aviation minister said on Tuesday.
Indian Airlines Ltd, the country's largest domestic carrier, will dry-lease three Airbus A320 planes by the end of February and another two by the middle of the year to boost market share, its chairman said on Tuesday.
Losses at state-owned Indian Airlines Ltd, the country's largest domestic carrier, rose by half in the past financial year to March from the previous year as a global decline in tourism after September 11 hurt traffic.
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