Emirates would consider investment in Indian carrier
Emirates announced it would consider plans to invest in an Indian domestic carrier if the Indian Government altered its foreign direct-investment policy for airlines (Telegraph India, 17-Jul-2010). Foreign carriers are not permitted to invest directly or indirectly in domestic carriers, while the foreign direct investment cap for non-airline companies in domestic carrier is 49%.
Emirates: “Emirates will consider picking up a stake in domestic (Indian) carriers if the government allows such a move. India is a growing aviation market, which cannot be ignored as its economy is booming. The middle class is growing at a rapid pace and the aviation sector has a good prospect in the country,” Majid Al Mualla, Senior Vice-President Commercial Operations West Asia and Indian Ocean. Source: Telegraph India, 17-Jul-2010.