Qatar Airways still keen on IndiGo stake

Qatar Airways CEO Akbar al Baker has reiterated his interest in the Indian market stating that the Qatari carrier would be open to acquiring a 49 per cent stake in low cost carrier IndiGo Airlines if given the opportunity.


Qatar Airways still keen on IndiGo stake


Qatar Airways CEO Akbar al Baker has reiterated his interest in the Indian market stating that the Qatari carrier would be open to acquiring a 49 per cent stake in low cost carrier IndiGo Airlines if given the opportunity. “If IndiGo offers us 49 per cent, Qatar Airways would be extremely interested,” he was quoted by the Times of India as telling a news conference in early January. “We would be able to deliver what they (India) want faster than all the new entrants in the Indian market. Qatar Airways will always have a very keen interest in growing in India and investing in the aviation industry in India.”

 

India’s largest airline by market share, IndiGo last year unveiled plans for an IPO aimed at raising at least US$400million from the sale of a 25 per cent stake. Al Baker dismissed speculation Qatar Airways could invest in either GoAir or Spicejet stating that IndiGo is the country’s only “efficient” operator hence his interest.

 

Concerning Qatar Airways’ own future plans; al Baker noted that his airline would consider privatisation only after 2024. “We always welcome competition and have significant expansion plans for the region and internationally. But we have no plans to privatise for at least 10 years,” he said. The country’s sovereign wealth fund, Qatar Investment Authority (QIA), last year acquired stakes in its national airline owned by former Prime Minister Sheikh Hamad bin Jassim al-Thani – a member of the ruling family – and other shareholders, turning Qatar Airways into a fully government-owned entity.