The IndiGo management said they do not find any synergy with the idea of purchasing only domestic operations
IndiGo, India's top low-cost airline, is not interested in any of national carrier Air India's assets that would have to be monetized later.
On a conference call, promoters Rahul Bhatia and Rakesh Gangwal said IndiGo is a significant player and will like to take advantage of the massive market India offers, and that makes fundamental economic sense to acquire AI's long-haul international operations.
Gangwal said the business model for the airline will be low-cost long-haul, and in case they are able to get the international operations of the national carrier they will not be operating it in the same manner in which it was earlier.
He said it will take a very long time to reach the level of achievement in international operations if they do it on their own. "Air India has been able to achieve this in over 70 years when aviation was still in its infancy. We will not be able to replicate Air India or a United Airlines in a short time," he said.
Bhatia said he did not see having any interest in AI if there is a joint ownership with the government. "We will not be going down that path."
Taking a dig at the foreign airlines (Gulf-based airline like Emirates, Qatar Airways, Etihad), IndiGo official said these airlines will be interested in maximising own assets and will do nothing to further the interest of AI. It will be 'Shakespearean tragedy' if the national carrier gets sold to a state-owned entity as it is vulnerable to so many pushes and pulls like war, he said, giving an example of the sanctions on Qatar by other Middle East countries.
BARGAIN HUNT
- The IndiGo management said they do not find any synergy with the idea of purchasing only domestic operations
- It said many employees know a lot about their work but obviously changes are bound to happen in the employee structure
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