Updated on July 29 with IndiGo statement.

Qatar Airways has no interest in acquiring a stake in Indian low-fare carrier SpiceJet, but it is holding discussions with another of the country's budget airlines, IndiGo. The Middle East-based carrier issued a statement to that effect on July 28, saying that it was responding to “unfounded” commentary.

“This release is to confirm that Qatar Airways is not in talks to pursue a commercial stake in SpiceJet. There is no interest from the airline to engage in a partnership with the Gurgaon-based airline,” the statement reads. “Qatar Airways confirms that the only airline it is talking to is the Indian carrier IndiGo.”

IndiGo issued the following statement: "IndiGo is in preliminary discussions with Qatar Airways to explore potential marketing arrangements based on mutual interests. However, news reports about any possibility of Qatar Airways acquiring a stake in IndiGo are completely baseless. We wish to confirm that there is no discussion, leave alone negotiation about any potential equity or other financial investment by Qatar Airways in IndiGo."

SpiceJet recently emerged from financial turbulence under new ownership, and reduced its fleet of (mainly) Boeing 737s by about half; to 20 compared to last year. It also operates 14 Bombardier Q400 turboprops on regional routes. IndiGo, which is also based near New Delhi in Gurgaon, started operating in August 2006 and reports it is flying 96 Airbus A320s, as of April.

While not elaborating on its talks with IndiGo, Qatar Airways decidedly quashed what it said are media claims that it will acquire a stake in, or negotiate an interline agreement with, SpiceJet.

“This is not the first time that such claims have been made. Similar news was disseminated in January 2013, and this appears to be a tactic to increase market and share value,” the Doha-based Gulf carrier said. “These stake sale comments are unfounded and are believed to be deliberately spread to influence share valuations.”