Jet Airways in investment talks with Etihad

Jet Airways Boeing 777. Courtesy, Jet

Jet Airways has confirmed it is in discussions with Abu Dhabi-based Etihad Airways to take a stake in the Indian carrier.
In a regulatory filing with the Bombay Stock Exchange, Jet said talks “regarding a potential investment” by Etihad had begun following a recent ruling allowing foreign airlines to buy up to 49% equity in Indian carriers.
Jet said an agreement on terms has not yet been reached. “Various structures are being explored by the legal and commercial teams and care being taken to ensure that all the Indian regulatory requirements are fully complied with. By its very nature, there cannot—at this stage—be a firm timeline as to the progress of these negotiations, considering the complexity of trans-national transactions such as this,” according to Jet.
Indian media outlets have recently speculated Etihad would take up to a 24% stake in the loss-making Jet. Etihad has previously refused to comment, but CEO James Hogan said last month it was interested in the fast-growing Indian market.


atwonline.com