4-Dec-2012 10:50 AM

Jet Airways to raise USD290m through 24% stake sale to Etihad: reports

Jet Airways may reportedly raise around INR16 billion (USD290 million) from a reported sale of a 24% stake to Etihad Airways (PTI/Economic Times/The Hindu Business Line/Indian Express, 04-Dec-2012). A deal could reportedly be concluded by the end of Dec-2012, with clearances to be gained in 2013 ahead of the deal reportedly closing by Mar-2013. The agreement would also reportedly include codesharing, joint marketing and some slot sharing. Meanwhile, the agreement could reportedly also result in Jet Airways shifting its international base from Brussels to Abu Dhabi. The codeshare could also reportedly mean the carrier will not join the Star Alliance.