Dubai: Spicejet has been approached by several Gulf-based and Southeast Asian airlines but will not jump into negotiations before the government reaches a crucial decision on foreign investment, its chief executive said on Wednesday.
"We have been approached by several Gulf and Southeast Asian airlines, all on a tentative basis," Neil Mills, the loss-making budget carrier's chief executive, told Reuters.
India allows up to 49 percent foreign investment in Indian carriers but bars foreign carriers from picking up stakes. But with most carriers suffering losses, the government is now mulling allowing foreign airlines to invest directly.
India's cabinet is expected to make a decision on Foreign Direct Investment (FDI) rules this week.
19/04/12 Reuters/Economic Times
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