(MENAFN- Bangladesh Monitor) Doha : Qatar Airways plans to order 100 new aircraft before end of 2017 to launch a new airline in India. Qatar Airways Chief Executive Officer Akbar Al Baker on March 28, also said the company plans on launching two new routes to the United Kingdom, even though the nation has imposed increased security restrictions.
Al Baker said the airline was confident that 'futuristic' Modi's new aviation policy will allow 100% foreign ownership of a domestic airline. Speaking to reporters in London, Al Baker said the airline was consulting its legal team in India to start a tender for the aircraft soon. 'It could be this year. It depends how fast we can arrange our application,' Al Baker said.
The development follows Abu Dhabi's Etihad Airways takeover of a 24% stake in Jet Airways India Ltd. Singapore Airlines Ltd and AirAsia too have 49% stakes with their affiliates in India.
In June 2016, the Indian Government allowed 100% Foreign Direct Investment in the civil aviation sector, with an exception for overseas airlines, on the condition that the stakeholders arrange for the requisite government approvals, Foreign airlines are currently permitted a maximum of 49% stake in domestic carriers.
MENAFN2608201701630000ID1095773634
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.