British Airways keen to come on board in India

Mumbai: British Airways, world’s third largest carrier, is keen to be a strategic investor in an Indian aviation company when foreign carriers are allowed to invest in the sector, says its chief executive officer.
“We are looking at opportunities in India and we are very interested in the Indian market,” British Airways CEO Willie Walsh told reporters in Mumbai on Saturday where he announced a code-share agreement with Kingfisher Airlines and introduced the latest plane from the Boeing stable — Boeing 777-300ER — in some select Indian routes.
British Airways will look at consolidation in the Indian aviation sector when foreign carriers are permitted to buy stake in their Indian counterparts, he said. “India is the second largest market after the United States for us. We are very keen on working in the Indian aviation space,” added Mr Walsh.
Indian investment norms do not permit foreign carriers to acquire stake in Indian airlines on the grounds of national security although overseas investment of upto 49% is allowed in the industry.
05/09/10 Economic Times

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Categories: Foreign Sep 2010