The state-owned carrier of Qatar, Qatar Airways, will start a new domestic airline in India, its Chief Executive Officer (CEO) Akbar Al Baker announced on Wednesday.
The government’s last year decision to allow 100 per cent FDI in aviation sector seems to be working now. The sector is all set to get a major boost with Qatar Airways announcing that it has plans to start a domestic airline in India with the investment arm of gulf nation’s government.
This will be the first of its kind airline venture in India that will be fully owned by overseas entities.
"We are joining hands with the investment arm of State of Qatar to start a domestic airline in India with a 100 percent investment," Qatar Airways CEO Akbar Al Baker said at a press meet in Berlin on Wednesday.
"We are doing this because the Indian government has opened up the foreign direct investment in (setting up) an airline in India," he added.
At present, AOP is granted only to an airline where substantial ownership is with Indian entities.
On several occasions earlier, Qatar Airways - which operates a significant number of flights from India to Qatar’s capital city Doha - had explored the possibility of buying the stake in Indian budget carrier IndiGo.
Also Read:-
Can't charge over MRP for bottled water, says Govt