Qatar Airways may consider buying a stake in InterGlobe Aviation Ltd-owned IndiGo, but is not interested in investing in debt-ridden Air India, Qatar Airways group chief executive Akbar Al Baker said. “We are very keen to take a stake in IndiGo but we will wait. This is not the right time. We are not interested in Air India,” Baker said, addressing a press conference on Thursday to announce a code share agreement between Qatar Airways and IndiGo. The code share agreement between Doha-based Qatar Airways and IndiGo will fuel the Indian carrier’s overseas ambitions and improve traffic from the fast-growing Indian air-travel space to the Gulf carrier’s network. As part of the agreement, Qatar Airways will place its code on IndiGo flights between Doha-Delhi, Mumbai and Hyderabad starting today. Following the announcement, shares of InterGlobe Aviation had risen 1.45% but pared gains to trade up 0.45% at ₹1,475.05 on BSE. This is the second code share agreement for IndiGo as part of its growth strategy for international markets. Qatar Airways will place its code on IndiGo operated flights between the said destinations, an IndiGo notice to stock exchanges said. “We are extremely proud to secure this strategic partnership with IndiGo, the largest airline in one of the world’s fastest growing aviation markets. We believe this agreement will be just the first step in strengthening our relationship,” Qatar Airways group chief executive Akbar Al Baker said. IndiGo chief executive Ronojoy Dutta said the strategic announcement with Qatar Airways will not only strengthen the company’s international operations but boost economic growth in India by bringing in more traffic for trade and tourism through seamless mobility. “We are confident of a successful partnership, as we extend our signature on-time, courteous and hassle-free service experience to the passengers of Qatar Airways. These are exciting times for the aviation industry and it is our commitment to remain focused in building one of the best air transportation system in the world,” Dutta said. With the collapse of Jet Airways in April 2019, IndiGo’s market share jumped. As on October, the airline continued its market dominance, carrying nearly one in every two passengers, more than recovering the ground it had lost in August. Its market share rose to 48.2% from 47% in August. It was 47.8% in July.
