Thursday, January 11, 2018

Emirates not interested in Air India stake

Dubai: Emirates airline confirmed it does not intend to buy stakes in any airline, following a decision by the Indian government to allow foreign investors to own up to a 49 per cent stake in Air India.
“Emirates has no plans to buy or acquire any airline. We continue to focus on our organic growth, and will partner with other airlines where it benefits our customers and makes commercial sense,” an Emirates spokesperson told Gulf News on Thursday.

The statement is a reiteration of comments made repeatedly by Tim Clark, president of Emirates airline, who earlier stated that “equity [stakes are] not on the table.”
On Wednesday, India cleared a proposal that would pave the way for global airlines to bid for the state-run carrier. This brings Air India in line with the country’s other local airlines, in which foreign investment is allowed.
11/01/18 Sarah Diaa/Gulf News