SpiceJet has held “preliminary discussions” with a Gulf airline for potential investment in the Indian budget carrier, a news report has said.

“There have been preliminary discussions to check in principle whether there is interest on both sides and the confirmation there would be ‘yes there is’,” SpiceJet CEO Neil Mills told Arabian Business. Any such tie-up depends on a policy shift in India’s aviation industry, which currently prohibits foreign direct investment (FDI) in the sector.

Mr. Mills said as the framework for FDI in Indian aviation was not yet in place, overseas carriers were reluctant to enter more formal negotiations.

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