Thursday, September 27, 2012

NEWS | FDI in aviation: IndiGo says no plan to take foreign partner on-board

Contrary to its peers, who are upbeat about 49% foreign direct investment in Indian carriers, budget airline IndiGo on Tuesday said it has no plans to take on-board an overseas partner to expand its business.
"We are not looking at any investment.. so it does not matter to us. We are certainly not looking at investment by foreign airlines at this point of time," IndiGo President Aditya Ghosh told reporters at the sidelines of an All-India Management Association summit here.
The Gurgaon-based carrier, run by InterGlobe Enterprises, is the market leader with 27.6% market share as of August, unseating the long-time market leader Jet Airways Group - which also runs a budget service, Jet Konnect - that enjoyed a combined pie of 25.2% during the same period.
Ruling out any downward revision in fares following the two full service carriers - Air India and Jet Airways - announcing special promotional rates during the upcoming festival season to woo passengers, Ghosh said his no-frills


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