Thursday, January 24, 2013

Etihad–Jet deal; to be finalized on 25

     Etihad airways, the UAE based aviation company, will take the final decision probably on Friday on its move to buy the stakes of Jet airways, the India’s  largest aviation company in private sector. Etihad airways is planning to buy 24% of stakes of Jet airways and it will spend $ 33 Cr (approximately Rs 1750 Cr) for this purpose.
     In the meantime, neither Etihad nor Jet did publish any official confirmation in this regard so far.  Central government of India, in the last September, had allowed foreign aviation companies to buy 49% shares of Indian aviation companies.  This was in order to help the Indian aviation companies who are struggling to withstand the acute threat of financial crisis.
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