UAE carriers unlikely to bid for Air India

UAE-based airlines are unlikely to acquire any stakes in Air India, following a decision by the Indian govt to allow foreign investors to own up to a 49% stake in the airline. Wednesday, the Indian govt cleared a proposal that would pave the way for global airlines to bid for the carrier. This brings Air India in line with the country’s other local airlines, in which foreign investment is allowed. And while UAE-based airlines have long described the Indian market as being highly lucrative due to strong passenger traffic between the two countries, Emirates and Etihad Airways are unlikely to bid for any stakes in Air India, according to previous comments from the airlines. However, Emirates and Etihad are yet to comment on the latest decision by the Indian govt. <br/>