Qatar Airways “only interested in IndiGo”

The Indian carrier on Friday said it was in “exploratory and preliminary stage” talks with potential investors who have shown an interest in putting money into the airline. The low-cost carrier had posted a net loss of Rs 124.1 crore in the 2014 April-June quarter.

The two Airbus planes that are now wet-leased, are expected to be replaced by traditional dry-lease aircraft in coming months.

The Gulf-based airline’s statement comes shortly after Al-Baker, Group Chief Executive Officer, Qatar Airways, told newspersons at the global Air Transport Association meeting in Miami that IndiGo was the only Indian airline that Qatar was interested in. Such an agreement allows more than one airline firm to sell tickets on each others’ flights.

Godrej Consumer Products also surpassed street expectations as the consolidated net profit of the personal care products manufacturer grew by 39 per cent year-on-year to Rs 199.2 crore, driven by strong operational performance.

“We are working hard to build a world class airline again”.

“This is the second consecutive profitable quarter and I am proud of what we have achieved. But there is still a long way to go”, Singh said. “We’re not in talks with anyone”, IndiGoPresident Aditya Ghosh had said.

For the quarter, earnings before interest, tax, depreciation and amortisation (Ebitda) stood at Rs 126 crore, against Rs 43 crore in the corresponding quarter previous year. “However, the industry’s biggest single problem is the gross overcapacity situation that the airlines have inflicted on themselves”, said Hormuz P. Mama, an aviation analyst in a Mint report. This load factor reflects an increase of 14.8 per cent over the same period a year ago. Its capacity is down a third since past year.