New Delhi: A cat has nine lives, they say. Industrial baron Vijay Malya of Coastal Karnataka in Bangalore now, has revived hopes in his defaulting Kingfisher airlines, with a cumulative debt of over Rs.7,500 crores, on fuel and maintenance as Central Govt, has agreed to his plan for foreign direct investments (FDI) of about 26% in Indian Civil aviation.

Experts opine that Mallya’s Kingfisher and Goel’s Jet Airways will get a second life if FDI is permitted in private aviation. Hitherto, only cargo carriers could get these external investments.

Now that the Central ministry has given a ‘go ahead’ signal to Kingfisher and Jet Airlines, it is a boon for their survival with huge loans string at them for recovery.

The suggestion for FDI in Indian civil (private) airlines was drilled home by Mallya, to amend Industrial policy and publicity.

While sanctioning foreign investments, the Finance ministry warned of never transgressing the rules laid down by SEBI. The Kingfisher shares had dipped earlier, but now they are looking up in stock market exchange.