DUBAI, Sept 17 (Reuters) - Dubai's flagship carrier Emirates
said on Monday it did not have plans to buy a stake
in any Indian carrier, after India last week allowed foreign
airlines to buy up to a 49 percent stake in local carriers.
Ailing Kingfisher Airlines is banking on attracting
a foreign airline to pump in money, while shares in budget
carrier SpiceJet surged on Monday, as investors hoped
for foreign investments.
Any global carrier eyeing a stake in an Indian carrier must
weigh up the benefits of a market with high long-term growth
potential but one that has been squeezed by high costs and
fierce price competition.
"Emirates has no plans to acquire a stake in another airline
in India or anywhere else," the airline said in a statement. "We
are busy focusing on the many aspects of our own growth
including the launch of flights to five new destinations in as
many months."
(Reporting by Praveen Menon, writing by Anurag Kotoky)