Tag Archives: Akbar Al Baker

Akbar Al Baker, Group CEO, Qatar Airways, has said that while they are keen to pick up stake in Indian low-cost carrier IndiGo, which he regards as the country’s largest and most efficient airline, the present may not be the right time for it. The Group CEO says that India continues to be a strategically important market for Qatar Airways.

Qatar Airways will soon move an application to launch a full-service airline in India for domestic operations, according to its chief Akbar Al Baker. He said the proposed airline would be fully financed by Qatar’s sovereign fund and would have Indians heading the board. Baker, who has been Qatar Airways’ Group Chief Executive for over two decades, was recently elected as the Chairman of the Board of Governors of the International Air Transport Association (IATA). “We will move the application soon. I don’t know really by when because it (the process) takes time,” he told on the sidelines of the IATA Annual General Meeting when asked by when the application for a licence would be moved. Noting that the process is on track, he said the proposed carrier in India would be a full-service one and the investment would be done from the sovereign fund of Qatar’s official investment arm. Qatar Investment Authority manages the sovereign wealth fund of the State of Qatar. It was set up in 2005 to manage the oil and natural gas surpluses and its assets under management are estimated at USD 335 billion, a lot of which have been invested overseas for a variety of purposes.  It was in March 2017 that Baker first mentioned about its plans for a carrier in India. Source:PTI

Qatar Airways may order 100 new jetliners before the end of this year to power its push into India, chief executive officer Akbar Al Baker said. The Persian Gulf carrier is confident that a new aviation policy mapped out by Prime Minister Narendra Modi will permit 100% foreign ownership of a domestic airline, Al Baker said Monday in London. Qatar Airways is briefing lawyers in India and will seek formally to establish the new airline soon, with a tender for aircraft to follow. “It could be this year,” the CEO told journalists after addressing the Qatar-U.K. Business and Investment Forum. “It depends how fast we can arrange our application.” Al Baker revealed last month that he planned to set up an Indian carrier with a fleet of 100 narrow-body jets, breaking into a fast-growing market where local rules previously prevented full ownership by foreign airlines. He said at the time that the Qatar Investment Authority could fund the venture, leaving Qatar Air to run it, though it’s not clear whether such an arrangement would avoid the curb. Source: Bloomberg