FDI in aviation: No takers for Indian carriers?

With the government considering allowing foreign carriers to invest in Indian airline companies, CNBC-TV18 reached out to international carriers to check if they would get on board an Indian carrier if the FDI rules changed.
Unluckily, the answer was not positive.
CNBC-TV18’s Swati Khandelwal Jain says there may not be too many takers for India's bleeding carriers.
Emirates Airlines has the money but not the inclination to invest in an Indian carrier. The airline saw a 52% jump in its net profit despite a challenging business climate and declared a net profit at USD 1.5 billion for the year 2010-2011. But, it only wants to focus on its core business.
“Emirates has no plans to acquire a stake in another airline. We are busy focusing on the many aspects of our own growth including the launch of flights to seven new destinations in the next four months,” the company said in a statement.
Singapore Airlines, which explored a tie up with the Tata's in the past, is also not on the look out. “There are no immediate plans to acquire a stake in an Indian airline,” the airline said.
Queries to Qatar Airways, Lufthansa and British Airways are still awaited.
British Airways had in March told an Indian news paper that it would be interested in picking up a stake in an Indian carrier if the FDI rules were relaxed.
But airline companies are confident of attracting strategic players.
18/11/11 CNBC-TV18/moneycontrol.com

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Categories: Foreign Nov 2011, Indian Aviation- In General Nov 2011