New Delhi, Nov. 7 -- Qatar Airways may consider buying a stake in InterGlobe Aviation Ltd-owned IndiGo, but is not interested in investing in debt-ridden Air India, Qatar Airways group chief executive Akbar Al Baker said.

"We are very keen to take a stake in IndiGo but we will wait. This is not the right time. We are not interested in Air India," Baker said, addressing a press conference on Thursday to announce a code share agreement between Qatar Airways and IndiGo.

The code share agreement between Doha-based Qatar Airways and IndiGo will fuel the Indian carrier's overseas ambitions and improve traffic from the fast-growing Indian air-travel space to the Gulf carrier's network.

As part of the agreement, Qatar Airways will place its co...