Qatar Air confirms plan to establish fully owned India based airline
Sunday, 09 Mar, 2017
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After weeks of rumours Qatar Airways has confirmed plans to launch a fully owned domestic airline based in India.
Qatar Airways CEO Akbar Al Baker revealed its intention to set up what would be the first 100% foreign owned carrier in the country.
"We will have a 100% owned domestic carrier in India that will belong to both Qatar Airways and our state investment arm as India has now allowed foreign investment in domestic carriers within India," CEO Akbar Al Baker said at a media briefing at ITB Berlin.
India recently revised rules to allow overall foreign investment of 100% although an airline itself can only hold 49% equity.
The remainder may be held by another foreign partner such as an institutional investor or a sovereign wealth fund.
India is the fastest growing aviation market and Qatar Air may add as many as 100 narrow body jets into the new airline.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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