IndiGo says not in talks with Qatar Airways for stake sale

IndiGo said it was not in "talks" with any airline including Qatar Airways for a stake sale, a month after the gulf carrier's CEO expressed his desire to invest in the Indian company.

By PTI | Updated: Feb 12, 2015, 09.24 PM IST

MUMBAI: IndiGo today said it was not in "talks" with any airline including Qatar Airways for a stake sale, a month after the gulf carrier's chief executive Akbar Al Baker expressed his desire to invest in the Indian company.

"Indigo is not even in talks with Qatar...the question does not arise. Its kind of them (Qatar) to say that...

"Its a decision not happening at my level.. We're not in talks with anyone," IndiGo President Aditya Ghosh told reporters on the sidelines of an event here.

Currently, Rahul Bhatia of InterGlobe Enterprises holds 51.12 per cent stake in IndiGo and the rest 48.88 per cent is held by another investor Rakesh S Gangwal through his Virginia-based company Caelum Investments.

Baker had last month said in Doha that his airline was keen to pick up 49 per cent stake in the Gurgaon-based low-cost airline to expand its footprint in the Indian skies.

To a question on the on-going fare war, Ghosh said the pricing should be structured in a manner that it covers cost.

"I don't know whether deep discounts are here to continue or not. A sustainable business which lasts is good for customer... having discount on one day and tomorrow the product disappears is never good for customer," he said.

Indigo needs to run a profitable business and we'll do whatever it takes to achieve so, Ghosh said.

Stating that his airline will remain primarily focused on the domestic market as it is a big and under-served market, he said adding," We'd continue to do what we have been doing."

Pitching for some sops including tax concessions in the 2015-16 Union Budget, the senior IndiGo official said that the airlines also need incentives to boost efficiency.

On the issue of the Draft New Civil Aviation Policy, Ghosh said that IndiGo will take a "holistic view" on it once the final outcome is known.

Asked whether his proposed plan to launch an initial public offering (IPO) this year was on track, Ghosh said, "nothing at the moment, nothing new."

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