Qatar Airways 'very interested' in stake in India's IndiGo

Qatar Airways Chief Akbar Al Baker reiterated his interest in acquiring an equity stake in Indian low-cost carrier, IndiGo.

Al Baker, however, denied the Doha-based carrier was in official talks with the Indian airline, for the same.

Speaking at the Arabian Travel Market, Al Baker said Qatar Airways was looking at equity holding in other airlines, adding: "I always talk about IndiGo because it is the best run, most successful Indian carrier.

"And if there is any opportunity for taking an equity stake in IndiGo, we will be very interested. The owner, Mr Rahul Bhatia, also realises the synergies that Qatar Airways will bring."

Asked about the airline’s India strategy and Al Baker further stated: "We will launch with a clean slate. We don’t want to take over the legacy or inefficiencies of any airline.

"We like to partner with success stories, not failures."

Asked whether the Etihad-Jet alliance was causing any hindrance in Qatar Airways’ plan to foray into the equity stake with an Indian carrier, and Al Baker denied this was the case.

"We want to grow our business, but only when the right opportunity is there for us to do so. I have great confidence in the government of Prime Minister Modi," he said. "Once we see the atmosphere is conducive to us doing an airline successfully in India with a good partner like IndiGo, or anybody else if that does not materialise, we will do so."

Does that mean talks have begun for a partnership?

Al Baker denied this was the case, saying: "We're not in talks; we have a personal relationship. But if there's equity available we would be very to take that equity in Indigo."

He said acquisition rules would prevent Qatar Airways from taking a majority stake, but his airline would be interested in buying up to 49 per cent of Indigo.

"I know him, he’s my friend. He has indicated they are not planning to sell a stake in IndiGo, but once they consider he knows I’m interested," said Baker.

Al Baker also said he had no interest IndiGo’s domestic rivals Spicejet or Go Air because they operate a different product (airline) to Qatar Airways.

Deliberating on the debt-ridden, state-owned Air India's situation, Al Baker stated the carrier was not likely to disappear.

He stated: "don't think Air India will disappear. Like Qatar Airways, Air India is a very important icon of India. Quite probably it will be reinvigorated by sound business-minded individuals; it has huge potential not being utilised by the government."