Emirates airline may look at investing in India carrier
Duvvuri Subbarao, governor of the Reserve Bank of India, spoke extensively to NDTV Profit about the thinking behind the rate cut, and what to expect going forward.
Dubai-based Emirates airline has indicated that it may look at investing in an Indian carrier, as India’s government is mulling to allow foreign airlines to buy stakes in domestic carriers.
“The airline is open to looking at anything that helps its business and is at the right price,” said Chairman and CEO of Emirates airline Shaikh Ahmad bin Saeed Al Maktoum.
He said, however, nothing is happening for the moment.
On whether the airline would consider investing in an Indian carrier such as Kingfisher Airlines, the Gulf News quoted him as saying, “Talking about the business, there are many other companies like that around the world which we could look at, but don’t expect us to buy everything.”
The airline has been trying to gain additional flying rights in India.
The Commerce and Industry Ministry, meanwhile, has moved a Cabinet note to allow foreign carriers pick up equity in Indian airlines.
Prime Minister Manmohan Singh is likely to consult senior ministers to build a consensus on the issue of allowing FDI in airlines by foreign carriers.
The aviation industry, including Kingfisher, is facing financial difficulties.
