Speaking in Toulouse, France on Tuesday, Akbar Al Baker, CEO of Qatar Airways, announced his intention to create a large subsidiary in India with more than 100 aircraft.
Al Baker first mentioned this idea in March last year. However at the recent press meeting he did not expand on any details, especially about the type of aircraft.
“I will not tell you what type of aircraft we will deploy in India but as you may remember we said that we will launch an airline in India which will have a fleet of at least 100 aircraft,” he said.
Already an important Arabian Gulf player, Qatar Airways has been considering India for its market potential given that it has one of the fastest growing economies in the world. Last year, Qatar Airways suggested it may expand its Indian schedule because the sub-continent is fast becoming a global growth engine.
In March 2017, Baker said Qatar’s sovereign wealth fund will invest in the Indian subsidiary airline because India allows non-Indian investors to own 100% equity in a local carrier, but foreign airlines are excluded from any such ownership.