Indian carriers hot pie for foreign players

Foreign airlines have always evinced interest in putting their money in no-frills carrier IndiGo, one of the only two Indian airlines in profit, ever since the government allowed such operators to invest up to 49 per cent.

Speculation has always been there about Qatar Airways’ interest in picking up stake in IndiGo, which enjoys the highest market share. However, IndiGo could not be contacted for its comment on the latest remarks by Qatar Airways CEO Akbar Al Baker.

IndiGo is promoted by Rahul Bhatia’s InterGlobe Enterprises which has 51.12 per cent stake. Another founder, US-based Rakesh S Gangwal, holds the rest of the stake.

Jet Airways was the first Indian airline to attract investment from a foreign airline when Abu Dhabi’s Etihad invested in the airline.

AirAsia India is funded majorly by Malaysia-based AirAsia, which holds the maximum 49 per cent stake allowed for a foreign airline. In Vistara, Singapore Airlines is the minority partner of Tata Sons with 49 per cent.