Qatar Airways will soon move an application to launch a full-service airline in India for domestic operations, according to its chief Akbar Al Baker.
He said the proposed airline would be fully financed by Qatar’s sovereign fund. It would have Indians heading the board and as most of its members.
Baker, who has been Qatar Airways’ Group Chief Executive for over two decades, was elected as the Chairman of the Board of Governors of the International Air Transport Association (IATA) on Tuesday.
“We will move the application soon. I don’t know really by when because it (the process) takes time, he said on the sidelines of the IATA Annual General Meeting.
Noting that the process is on track, he said the proposed carrier in India would be a full-service one and the investment would be done from the sovereign fund of Qatar’s official investment arm.
It was in March 2017 that Baker first mentioned about its plans for a carrier in India and in February this year, he had said it plans to launch an airline in India with at least 100 planes.
Last December, the airline had said it would like to add more flights to India in the future as the country is an economic superpower and an important destination for it.
India has permitted foreign investors, barring foreign airlines, from owning up to 100 % stake in local carriers. While a foreign airline can hold up to 49 % stake, foreign investment arms can own the remaining part.