 "Qatar Airways")
Qatar Airways, which had announced its plans to set up an airline in India along with the Gulf nation’s sovereign wealth fund over two months ago, has not yet approached the government with its proposal.
However, the government is applying its "mind" on bringing the rules and regulations regarding ownership and control of an airline in conformity with the new foreign direct investment (FDI) norms, according to aviation minister Ashok Gajapathi Raju.
“With regard to a particular airline (Qatar Airways) approaching the government, I don't think anyone has approached yet,” Raju told PTI.
Qatar Airways Chief Executive Officer Akbar Al Baker had on March 8 said in Berlin that his airline was joining hands with investment arm of the Qatar Government to start a domestic airline in India.
“We are doing this because the Indian government has opened up the foreign direct investment in (setting up) an airline in India,” he added.
Last June, India allowed foreign investors — barring overseas airlines — to own up to 100 per cent stake in local carriers by liberalising the FDI regulations. Currently, foreign airlines are allowed to invest only up to 49 per cent in Indian carriers.
