Dubai’s flag carrier on Tuesday dismissed reports it is interested in buying a stake in India’s troubled aviation sector.
“We are not interested in getting involved in the Indian aviation sector,” Emirates President Tim Clark said, speaking to Reuters on the sidelines of a finance conference. He also denied suggestions the airline is taking interest in budget Indian carrier Spicejet.
Spicejet officials said last week the no-frills airline is mulling offers made by several Gulf and Asian carriers as the Indian government works on a change in foreign investment rules. Speculation of contacts between the Indian carrier and Emirates have been rife during the last few weeks.
Spicejet’s shares took a hit on Tuesday when hopes of a government legislation to change rules related to foreign investment in domestic aviation sector were put on the back burner.