India's budget carrier SpiceJet will evaluate the option of selling a stake to a foreign carrier if the government were to change rules, its chief executive said on Monday.
"We will evaluate it on the same basis as anything else. We are a business. We don't need a bailout, whether it's from a government or from a foreign airline," Neil Mills told reporters, adding that the airline is currently not in talks with any foreign carrier.
India allows up to 49 percent foreign investment in Indian carriers but bars foreign carriers from taking a stake. But with most Indian carriers suffering losses, the government is now considering allowing foreign airlines to invest in local carriers.
"FDI (foreign direct investment) should be allowed because FDI by airlines is no different from FDI from any other company," Mills said.
