al Baker reiterates Qatar Airways interest in Indian LCC IndiGo
Qatar Airways (QR, Doha Hamad Int'l) CEO Akbar al Baker has reiterated his interest in the Indian market stating that the Qatari carrier would be open to acquiring a 49% stake in budget carrier IndiGo Airlines (6E, Delhi Int'l) if given the opportunity.
"If IndiGo offers us 49%, Qatar Airways would be extremely interested," he was quoted by the Times of India as telling a news conference last week. "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 USD400million from the sale of a 25% stake. Though underwriters have been chosen, a date has yet to be set.
al Baker dismissed speculation Qatar Airways could invest in either GoAir (G8, Mumbai Int'l) or Spicejet (SG, Delhi Int'l) stating that IndiGo is the country's only "efficient" operator hence his interest.
The CEO went on to note that he has already gone through diplomatic channels to arrange a meeting with Indian Prime Minister Narendra Modi to look at possible future investment opportunities in the aviation sector.
“I have absolute confidence in the government of PM Modi. He is a very forward looking individual, who has big plans for India,” he said. “And I am sure that only in time people will realise the potential the aviation industry brings to a country.”
Concerning Qatar Airways' own future plans, al Baker noted that his airline would consider privatization only after 2024.
“We always welcome competition [in the region] and have significant expansion plans for the region and internationally. But we have no plans to privatize 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.
Ch-aviation
Qatar Airways (QR, Doha Hamad Int'l) CEO Akbar al Baker has reiterated his interest in the Indian market stating that the Qatari carrier would be open to acquiring a 49% stake in budget carrier IndiGo Airlines (6E, Delhi Int'l) if given the opportunity.
"If IndiGo offers us 49%, Qatar Airways would be extremely interested," he was quoted by the Times of India as telling a news conference last week. "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 USD400million from the sale of a 25% stake. Though underwriters have been chosen, a date has yet to be set.
al Baker dismissed speculation Qatar Airways could invest in either GoAir (G8, Mumbai Int'l) or Spicejet (SG, Delhi Int'l) stating that IndiGo is the country's only "efficient" operator hence his interest.
The CEO went on to note that he has already gone through diplomatic channels to arrange a meeting with Indian Prime Minister Narendra Modi to look at possible future investment opportunities in the aviation sector.
“I have absolute confidence in the government of PM Modi. He is a very forward looking individual, who has big plans for India,” he said. “And I am sure that only in time people will realise the potential the aviation industry brings to a country.”
Concerning Qatar Airways' own future plans, al Baker noted that his airline would consider privatization only after 2024.
“We always welcome competition [in the region] and have significant expansion plans for the region and internationally. But we have no plans to privatize 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.
Ch-aviation