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FINANCIAL NEWS
India’s SpiceJet denies Kuwait Airways set to buy 25% stake
20 Jul 2013
(MENAFN) Indian carrier SpiceJet has denied a news report from vccircle.com that Gulf carrier Kuwait Airways was seeking to buy a nearly 25 percent stake in the budget airline, Arabian Business reported.
In January, the carrier had said that it received some interest from potential investors, but it would be early to discuss the possibility of any concrete investments, according to Reuters.
The Indian government this year changed regulations allowing foreign airlines to invest in domestic carriers.
Kuwait Airways is the latest in a series of reports linking Gulf airlines to a bid for a stake in an Indian carrier and Qatar Airways has also been named several times in unfounded rumours, something which has irritated its CEO Akbar Al Baker.
Abu Dhabi’s Etihad is awaiting final approval to buy a 24 percent stake in Jet Airways for USD379 million.
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