India, Sept. 17 -- Giving a big blow to the dreams of ailing carriers including Kingfisher Airlines, SpiceJet and others, the Dubai-based airline Emirates denied having any plans to invest in the Indian airlines despite the government's approval to the 49 percent FDI in aviation industry.
"Emirates has no plans to acquire a stake in another airline in India or anywhere else," said the airline in a statement.
Although the airline clarified that presently it is focusing on various aspects of its growth including launch of flights to five new destinations in as many months, many other foreign airlines are equally skeptical while investing in Indian airlines.
The fear comes on the back of poor market conditions in the past that led to high costs and fierce price competition. Resultantly, every foreign airline is very closely weighing up the benefits of a market with high long-term growth potential.
However, on the Indian front, the airlines are desperately waiting for the foreign investment. They have long sought for the FDI in aviation industry. And now with the government finally giving a nod to the long sought demand, the ailing airlines are completely banking on the foreign investment to regain their lost status and growth. Published by HT Syndication with permission from Dion Global Solutions Limited . For any query with respect to this article or any other content requirement, please contact Editor at [email protected]
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