Mon 4 to Sun 10 Feb 2013

India's Jet Airways finalizes stake sale deal with Abu Dhabi's Etihad Airways

Etihad could acquire 24 percent stake in Jet for up to $330 million

wikipedia-Anilbharadwaj125

India's second biggest carrier Jet Airways finalizes a stake sale deal with Abu Dhabi's Etihad Airways following talks between the top executives of the two airlines over the potential investment. 

"The government's role is to make sure that whatever agreement they [the executives] come to is within the regulatory framework," said India's  Civil Aviation  Minister  Ajit Singh  after the meeting.

Etihad is expected to acquire 24 percent stake in Jet for up to $330 million. 

The deal is the first since India relaxed ownership rules in September 2012 and allowed foreign airlines to buy up to 49 percent in domestic carriers. 

dailystar.com.lb - India's Jet expects deal with Etihad in a week: executive on 2013-01-31

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