India’s largest airline IndiGo and Qatar Airways will make a strategic business announcement on Nov. 7, the two companies said in a statement on Tuesday, sending shares of the budget carrier higher by as much as 4%. Qatar has in the past shown interest in investing in IndiGo but the Indian airline has resisted.
“We are very interested in IndiGo … We are talking to IndiGo of doing codeshare, joint flights but not yet an equity stake in the airline,” Qatar Airways CEO Akbar Al Baker told Reuters in an interview in August.
Baker said they had talked to IndiGo but the airline was “not yet ready to take a foreign investor”. When it is ready, Qatar will be interested, he had said at the time.
