Qatar Airways keen to buy 49% stake in IndiGo

Qatar Airways is keen to buy equity in IndiGo if the Indian carrier offers 49 per cent stake to it, a top official has said as he sought the opening up of the Indian aviation market for established airline companies.

"If IndiGo offers us 49 per cent, Qatar Airways would be extremely interested," Qatar Airways Group Chief Executive Officer Akbar Al Baker told reporters on the sidelines of the unveiling of the new Airbus A350-900 in Doha.

He said that India should open up to carriers such as Qatar Airways as they are already established. "We would be able to deliver what they (India) want faster than all the new entrants in the Indian market," Al Baker said.

"Qatar Airways will always have a very keen interest in growing in India and investing in the aviation industry in India," he said.

However, he ruled out buying stake in SpiceJet or GoAir. He said Indigo is the only efficient carrier in India but added that the country cannot depend on only one airline.

Al Baker acknowledged the presence of Vistara and AirAsia in the Indian aviation market but said airlines don't grow overnight. "They need at least five to 10 years to really deliver the potential India requires," he said.

He said that Prime Minister Narendra Modi's 'Make in India' initiative should include aviation sector as an important tool to realise his vision for the country.

Calling Modi a forward-looking individual who has big plans for India, Al Baker said he had "absolute confidence" in his government.

"I have very high expectations and confidence in the individual (Modi) because it is for the first time in my memory that India has a leader who has the best interest of India in his mind and not personal agendas," he said.

"We hope that now with the new government that is pro-business, pro-economic development, pro-providing jobs to people they will consider aviation as a very important tool in delivering this vision that Prime Minister Narendra Modi has for India," he said.

"You cannot talk about 'Make in India' unless you open up the air services to India, the airways to India to fulfil the vision he (Modi) has," he said.

"It is extremely important for the Prime Minister to put the aviation growth in India as priority," Al Baker said, adding that India has already lost Kingfisher while other airlines such as Spicejet and Air India are struggling.

He also said that he has approached diplomatic channels in order to arrange a meeting with Modi to look at future investment opportunities in the aviation sector.