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Construction : Deals | January 2013 | Source : Construction Update

Qatar Airways keen to buy stake in Indian carrier

Qatar Airways' Chief Executive Officer Akbar Al Baker said that the Middle East's second-largest carrier is interested in purchasing a stake in an Indian airline. India is a huge market, India is a potentially lucrative market, Al Baker told the media on January 13 in Doha.

Qatar Airways will be interested once the company is sure the regulations and the laws are properly liberalised, he added. The CEO said he's not studying any specific purchase in India, where changes to rules curbing foreign direct investment from airlines have spurred interest in the market.

Gulf carriers including Abu Dhabi's Etihad Airways are looking to expand into the Indian market after Prime Minister Manmohan Singh's government in September allowed foreign airlines to own as much as 49 per cent of India's carriers as part of a push to attract investment and boost growth.

The move opens up a possible new source of funding for Kingfisher Airlines and other operators struggling to translate the country's rising travel demand into earnings.

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