Thursday, December 27, 2018

Codeshare agreement with Turkish Airlines 'purely commercial,' no change in shareholding: IndiGo

Country's largest airline IndiGo has clarified that its codeshare agreement with Turkish Airlines doesn't entail an equity deal.
"The principle underlying such arrangement... does not have any impact on the shareholding pattern of both parties," the airline said a statement to the National Stock Exchange. IndiGo reiterated that the mutual cooperation arrangement "is purely a commercial arrangement between the parties."
The two airlines had announced a code share agreement on December 21.
IndiGo's clarifications come amidst increasing buzz in the industry that Turkish Airlines could follow up the codeshare agreement with an equity deal with its Indian peer.
The code share is a first that IndiGo has done, and will offer its customers more destinations in Europe through Turkish Airlines' network. The Turkish carrier's customers will get access to destinations in India, through IndiGo's operations.
In its statement on Thursday, IndiGo said that no shares have been issued to any party under the code share agreement.
To Read the News in full at Source, Click the Headline


Post a Comment