Qatar Airways (QR, Doha Hamad International) in is talks with Indian budget carrier, IndiGo Airlines (6E, Delhi International), over a possible a codesharing agreement, CEO Akbar Al Baker has said, but denied the Gulf carrier is interesting in buying a stake in any Indian carriers, amongst them, SpiceJet (SG, Delhi International). Mr Al Baker said the rumours of any buyout were unfounded claiming "he doesn't have so much money to buy stakes in them." Regional rival, Etihad Airways (EY, Abu Dhabi International), recently signed a deal with Jet Airways (Mumbai International) which saw the Abu Dhabi-based carrier taking a 24% stake in the airline. A drastically liberalized bilateral air services agreement signed between India and the UAE will also put added pressure on the Qatari carrier, who are also rumoured to have sounded out the International Airline Group, IAG, regarding the purchase of a 12% stake currently held by Spanish bank, Bankia.