(MENAFN) Qatar Airways (QA) is in 'exploratory talks' with India's SpiceJet to pick up a substantial stake in the low-cost Indian carrier, The Peninsula Qatar reported.
QA is willing to buy up to 49 percent stake in the Indian cargo, the maximum allowed by India's FDI rules for foreign firms in domestic airliners.
However, SpiceJet is not keen to offload 49 percent at present, a section of Indian media reported.
"The government's view is crucial to an eventual SpiceJet-Qatar Airways transaction," Bloomberg quoted an official familiar with the development as saying.
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