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Mumbai: Government is set to consider a proposal to allow foreign airlines to own up to 49% equity in Indian carriers.

A committee of secretaries chaired by Cabinet secretary KM Chandrasekhar will take up the proposal on November 17, according to an unidentified official.

Foreign airlines are now barred from holding any stake directly or indirectly in domestic carriers.

Vijay Mallya-controlled Kingfisher Airlines has been calling for opening up the sector to foreign direct investment.

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