This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.

After announcing an amazing new business-class product at ITB Berlin this week, Qatar Airways has more big plans up its sleeve. The Doha-based carrier plans on launching a short-haul airline in India. Qatar Airways Group CEO His Excellency Akbar Al Baker said that the new airline would be 100% Qatari owned and funded by the the Qatar Investment Authority.

India recently opened up the country to direct foreign investment so it’s now possible for foreign entities to own domestic Indian airlines. Al Baker said that the carrier will “soon” be submitting an application to Indian authorities to operate an airline with a fleet of about 100 narrow-body jets within the country.

Qatar Airways Group CEO His Excellency Akbar Al Baker at ITB Berlin this week.

Other foreign carriers have recently started investing in India through joint ventures — AirAsia set up AirAsia India and Singapore Airlines started Vistara with Indian conglomerate Tata Group. And Etihad owns about a quarter of Jet Airways, India’s second largest airline. Despite its woes in recent years, the Indian aviation market still shows tons of potential for airlines as its currently valued at about $16 billion and is reportedly set to become the third-largest aviation market in the world by 2020.

Qatar Airways has tried to set up an airline in Saudi Arabia over the past few years, but hasn’t made much progress because of the difficulty it’s had in obtaining an operating license in the Kingdom. Al Baker also added that because of problems with the delivery of an earlier order of 50 narrow-body aircraft from Airbus, they have requested to convert that into one comprised solely of A321neos.

H/T: Quartz

Featured image courtesy of Shutterstock.

Capital One® Savor® Cash Rewards Credit Card

This cash back card has a focus on dining and entertainment where you can earn unlimited 4% cash back in those spending categories. You can also earn 2% cash back at grocery stores and 1% cash back on all other purchases.

Apply Now
More Things to Know
  • Earn a one-time $500 cash bonus after you spend $3000 on purchases within the first 3 months from account opening
  • Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
  • No foreign transaction fees
  • Access to premium experiences in dining, entertainment and more
  • $0 intro annual fee for the first year, $95 after that
Intro APR on Purchases
N/A
Regular APR
16.24% - 25.24% (Variable)
Annual Fee
$0 intro for first year; $95 after that
Balance Transfer Fee
$0
Recommended Credit
Excellent, Good

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.