An exclusive interview with Emirate CEO on FDI investment in India: A report by Gulf News, Middle East

Gulf News interviewed Emirates CEO Tim Clark on their expansion strategies and fleet acquisition. Emirate CEO Tim Clark said “Emirate will invest in India only if we have the right to control the management of the Indian carriers”.

Gulf News: Are you interested in investing into Indian carriers or not, if the 49% FDI (foreign direct investment) came through?

Tim Clark: I should think all of them [the Indian carriers] will be very happy if Gulf money came in to the tune of 49 per cent. But Emirates is not keen on it – not at the moment.

What is an investor going to look at? You’re going to look at a strong balance sheet, how the business is run, what the business model is, access to capital and so on. And then you slide Indian aviation into the frame and they say that you can have 49 per cent. Would you do it? It’s fantastic on paper. Then I go and say I want to buy 50 777-300 ERs or 30 A380s, for instance, and the main shareholders say you have to go through a process of procurement that has to go through the Parliament and so on. And 15 years later you are still trying to argue the toss on that.

If I was to say, I will come in but these are the rules of the game – 49 per cent and we have complete management control, we decide where, what and when. So, we source, we negotiate, we bring in, we have complete control to set up the operation the way we see it needs to be done with no interference from anybody. Have you seen that working in India? You have to have the management control to make it work.