NEW DELHI: Qatar Airways is reviewing plans for its personal home Indian airline because of "confusing" overseas ownership regulations and may decide to may paintings with a spouse in India or take a stake in IndiGo as an alternative, its chief government stated on Tuesday.
The state-owned Gulf service has lengthy coveted the Indian aviation marketplace, which is the quickest rising on this planet, and in 2017 stated it would set up a home airline, a yr after India eased overseas investment regulations for the field.
"We are really very interested to launch an airline in India, but the regulation is a little bit confusing to us," Qatar Airways CEO Akbar al-Baker told newshounds in New Delhi.
India now allows 100 in line with cent ownership of India-based airways, up from 49 in line with cent, but best with executive approval. Meanwhile, overseas airways continue to be limited to 49 in line with cent ownership.
Qatar Airways deliberate to own a minority stake of the home airline with sovereign wealth fund Qatar Investment Authority (QIA) being the majority owner.
However, enquiries to start out the applying process in India have been rejected over QIA's ownership of Qatar Airways, Baker stated.
"We really don't know what is allowed," he stated.
Qatar Airways may now paintings with an Indian spouse for the home airline or on the other hand seek a 15 to 25 in line with cent stake in low value airline IndiGo. If either one of those failed then the airline must put out of your mind concerning the home marketplace, Baker stated.
Qatar Airways has been enthusiastic about investing in IndiGo for several years, although by no means purchased into the airline.
Qatar Airways would be enthusiastic about buying Air India which the federal government needs to promote a 76 in line with cent stake in, Baker stated, adding it would best need the core airline property and now not other portions of the business reminiscent of flooring dealing with services.
Any bid for Air India would be depending on operating with a strong Indian spouse, Baker stated, adding that the airline's debt was once now not a topic. India needs to offload about $five.1 billion of Air India's debt.
"The (Air India) debt can be taken and restructured. The issue is with whom we will partner."
Qatar Airways expects to release its annual ends up in two weeks time, Baker stated. He has prior to now stated the airline made a "substantial" loss, which it blamed on a regional dispute that has banned the airline from four Arab countries.
The state-owned Gulf service has lengthy coveted the Indian aviation marketplace, which is the quickest rising on this planet, and in 2017 stated it would set up a home airline, a yr after India eased overseas investment regulations for the field.
"We are really very interested to launch an airline in India, but the regulation is a little bit confusing to us," Qatar Airways CEO Akbar al-Baker told newshounds in New Delhi.
India now allows 100 in line with cent ownership of India-based airways, up from 49 in line with cent, but best with executive approval. Meanwhile, overseas airways continue to be limited to 49 in line with cent ownership.
Qatar Airways deliberate to own a minority stake of the home airline with sovereign wealth fund Qatar Investment Authority (QIA) being the majority owner.
However, enquiries to start out the applying process in India have been rejected over QIA's ownership of Qatar Airways, Baker stated.
"We really don't know what is allowed," he stated.
Qatar Airways may now paintings with an Indian spouse for the home airline or on the other hand seek a 15 to 25 in line with cent stake in low value airline IndiGo. If either one of those failed then the airline must put out of your mind concerning the home marketplace, Baker stated.
Qatar Airways has been enthusiastic about investing in IndiGo for several years, although by no means purchased into the airline.
Qatar Airways would be enthusiastic about buying Air India which the federal government needs to promote a 76 in line with cent stake in, Baker stated, adding it would best need the core airline property and now not other portions of the business reminiscent of flooring dealing with services.
Any bid for Air India would be depending on operating with a strong Indian spouse, Baker stated, adding that the airline's debt was once now not a topic. India needs to offload about $five.1 billion of Air India's debt.
"The (Air India) debt can be taken and restructured. The issue is with whom we will partner."
Qatar Airways expects to release its annual ends up in two weeks time, Baker stated. He has prior to now stated the airline made a "substantial" loss, which it blamed on a regional dispute that has banned the airline from four Arab countries.
Qatar Airways rethinks India plans due to foreign ownership rules
![Qatar Airways rethinks India plans due to foreign ownership rules]()
Reviewed by Kailash
on
September 05, 2018
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