Qatar Airways will wait another 12 months to take a call on investing in an airline in India, Akbar Al Baker, Group Chief Executive Officer, Qatar Airways, said on Wednesday.
“We will lose interest in time because we have a fund that we will like to invest. If we do not invest in time then we have to use that fund somewhere else. It is like you have money to invest in an iPhone but if that is not available then you will go for Samsung,” Al Baker told newspersons at a media interaction on the sidelines of the International Aviation Summit here.
The Qatar Airways’ CEO said the Indian policy on allowing foreign airlines to invest in an airline here is confusing.
“For me it does not make sense. What is the difference between a foreigner and a foreign airline? Both are foreigners,” Al Baker said when asked whether he wanted the Indian government to allow a foreign airline to invest 100 per cent in an airline in India to operate only in the domestic skies.
When asked whether Qatar Airways was in talks with an Indian airline, he said “no” . “We have shown our interest to IndiGo many times. They are not ready, apart from the IPO, for a very small stake. We do not want to take 2-3 per cent. We will take substantial stake at least 10-15 per cent,” he said.
Al Baker was clear that Qatar Airways does not want to invest in an Indian airline only because the Indian carriers need funds. “We need to invest in an airline which will give us a return on the investment. It is efficiently run and has growth potential,” he said adding he had no problem in forming a partnership with an Indian airline.
The Qatar Airways’ CEO pointed out because there is double-digit growth in the market it does not mean that a player is making money.
“There is always an opportunity to invest in an airline in India. India is a huge aviation market. The market has had double-digit growth for a long time but that does not mean there is no space for anyone else,” he said.