flydubai (FZ, Dubai International) has become the latest Gulf-based carrier to put the word out that it would be open to an investment in a viable Indian carrier should the opportunity arise.
“The focus from shareholders is to grow the airline in Dubai, and right now we have no mandate to go outside. But we have a dialogue with Indian airlines all the time. If we find a good opportunity, we will consider it. We will then go and seek approval from the shareholders,” CEO Ghaith Al Ghaith told India's Business Standard.
The Dubai-based LCC's Indian network currently consists of Ahmedabad, Delhi International, Hyderabad International, Kochi International, Lucknow and Thiruvananthapuram.
With Etihad Airways (EY, Abu Dhabi International) having recently completed its acquisition of a 24% stake in Jet Airways (Mumbai International) so rival Qatar Airways (QR, Doha Hamad International) has also been linked to a possible shareholding in either SpiceJet (SG, Delhi International) or rival IndiGo Airlines (6E, Delhi International).
"IndiGo is the most efficient Indian carrier and the most progressive Indian carrier... We love to be associated to that success," Qatar Airways chairman Akbar al Baker told a press briefing on the sidelines of the IATA AGM in Doha last week.
In the past, al Baker has said his airline would not simply be an idle partner, but would expect to see an already profitable airline performing even better on the back of additional Qatari funding.
“We will not go to India just to be a partner - we are going to help them become more profitable, to get further investment, further capital, but we also need a return. We’re a business entity.”
