Etihad Airways looking to invest in Indian and other Asian carriers

After its push into Australia with a 10% stake in Virgin Australia and Europe with 29.2% in Air Berlin and 3% in Aer Lingus, the airline will now look for growth in Asia

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Etihad Airways, Abu Dhabi's flag carrier which has expanded globally through stake purchases in firms like Air Berlin and Virgin Australia, will look to extend its geographical reach to India and other Asian markets.

The Gulf carrier, in competition with regional rivals Emirates and Qatar Airways, will also look to secure more airline stakes, its chief executive said in an phone interview on Sunday. "Possibly one or two (partnerships) more and that will be it," said James Hogan when asked about plans to pick up more stakes in other airlines.

Hogan said after its push into Australia with a 10% stake in Virgin Australia and Europe with 29.2% in Air Berlin and 3% in Aer Lingus, the airline will now look for growth in Asia. "We are very clear that India and Asia represent an opportunity," said Hogan.

He said the airline has been receiving offers from the country's carriers. "We get a number of options. It has to meet our formula. We are in no rush. We have to make sure that it makes sense from a network, operation and revenue perspective.

India decided to allow foreign airlines to buy stakes of up to 49% in local carriers last month, a move that came as a lifeline to the country's debt-ridden carriers. Ailing Kingfisher Airlines, SpiceJet and Jet Airways are all said to be on a lookout for strategic investors.

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