Published on : Thursday, June 14, 2018
The sovereign fund of Qatar’s official investment arm will be investing in the new airline and will be lead by the Indians on the board along with its members as per the article.
Further the Qatar’s proposed airline will not have an Indian partner.
Al Baker mentioned that as per the Indian foreign direct investment rules states that any foreign entity will be able to own a domestic carrier and he will go by that rule. But this will be a carrier in India managed by Indians that will include the entire board, the chairman will also be Indian.
At present, Air India, Jet Airways and Vistara Airlines ( a joint venture between Tata Sons and Singapore Airlines) are the full-service carriers in India.
Air India earlier this month went on sale and Qatar mentioned that it will not be bidding for it debt-laden Air India.