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Jet Airways confirms talks with Etihad Airways, no terms finalised

4-Jan-2013 8:42 AM

Jet Airways confirmed (03-Jan-2013) it is holding talks with Etihad Airways regarding a potential investment by Etihad. The carrier, however, clarified: "These discussions have commenced recently pursuant to the liberalised FDI Policy which permitted foreign investment in the shares of an Indian airline. The discussions are in progress but no terms have been firmed up at present. 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". Reports have indicated Etihad may acquire a 24% stake in Jet Airways for up to INR18 billion (USD330 million) in the coming 10 days. The carrier added, "An appropriate announcement shall be made upon finalization of the terms of the investment with Ethiad as per legal and regulatory requirements." [more - original PR