Qatar Airways chief executive Akbar Al Baker has moved to quash rumours the carrier is seeking to purchase a stake in Indian carrier Spicejet.

“Qatar Airways categorically denies it is interested in investing in Spicejet or any other Indian airline,” Al Baker said earlier.

“This is pure speculation by individuals who deliberately want to spread such unfounded rumours to raise the stock value of their entities.”

Shares in SpiceJet rose 4.1 per cent earlier this week after the Times of India reported it was close to selling a stake to a foreign carrier, which the newspaper said was most likely to be Qatar Airways.

“India is a huge market and a potentially lucrative one,” added Al Baker.

“While we have expressed interest in expanding our presence in India, we will only be interested in any potential investment once we are sure regulations and laws are properly liberalised.

“I can confirm we are currently not talking to any Indian airline.”