New Delhi: In a move expected to benefit airline passengers, the Union Cabinet on Wednesday approved the new aviation policy, first proposed in 2014 by the NDA government.

The new policy had suggested a slew of measures including capping the airfare at Rs 2,500 for flights that are hour-long and Rs 1,200 for 30-minute flights.

Reports also suggest the 5/20 norm will be replaced by 0/20 which states that the airlines will be allowed to fly abroad if their fleet has 20 aircrafts, without any restriction on the number of years in operation. The airlines, earlier, had to ply on domestic routes for five years before getting an international permit.

The draft states the vision of th enew aviation policy is to create an eco-system to enable 30 crore domestic ticketing by 2022 and 50 crore by 2027. Similarly, international ticketing to increase to 20 crore by 2027.

All this while providing a safe, secure, affordable and sustainable air travel with access to various parts of India and the world, states the mission of the policy.

After unveiling the first draft in November 2015, the NDA government had replaced it with another draft 11 months later in October 2015. The proposed policy was sent for approval on June 3.

As soon as the news of the policy being approved was out, stock values of airlines went up by as much as 5%.

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