New Delhi: JD(U) chief Sharad Yadav strongly opposed the government's decision to allow upto 49 percent FDI in the aviation sector, saying this will destroy the aviation industry.

“The decision is being taken to bail out Kingfisher airlines, which was made for the elite, Yadav said.

“In November, 2011 I opposed the move of the Central government to bail out Kingfisher airlines whose owner has a net worth of Rs. 20000 crore,” Yadav added.

Without naming the Civil Aviation Ministry he said, “I don’t know why they are in such a hurry to do so.”

Requesting the government to put the decision on hold, Yadav said, “Civil aviation ministry is a very volatile department and no country is ready to loosen their guard in this regard. Even developed countries are against FDI in aviation after the terror strikes in America.”

He expressed fear that foreign direct investment could soon be raised from 49 per cent to 51 per cent, allowing larger say for foreign airlines in the country.

“The profit making Mumbai and Delhi airports of the Airport Authority of India were disinvested by the government, earlier their income was used to construct other airports in the country.” Yaday said.

(JPN/Bureau)