Abu Dhabi-based Etihad Airways has clarified it has no plan to sell its 24 percent stake in Jet Airways putting an end to speculations after aviation consultancy CAPA's report claimed the airline may sell its entire stake in Jet by Q3FY19, reported Business Standard.
In a statement, Etihad said, "The claims made in the CAPA report are false. Jet Airways is a valuable partner of Etihad Airways, and we have no plans to divest.”
The CAPA report was prepared for private circulation, and was not available on its website; however, the consultancy had tweeted:
he Gulf airlines built up a global presence by stitching up alliances and picking up investments in airlines around the world including Jet Airways. It, however, reported failures in its two high profile investments — Alitalia and Air Berlin — after which it set out on a course correction strategy.
The airlines has also downsized its fleet. It has been phasing out its Boeing 777-200LRs, Airbus A330 freighters and Airbus A340 aircraft and also offering leave without pay to its pilots.
Experts believe a slowdown in the Gulf economies and decline in crude oil prices may be other factors that influence Etihad's growth plans.
02/03/18 Moneycontrol.com
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In a statement, Etihad said, "The claims made in the CAPA report are false. Jet Airways is a valuable partner of Etihad Airways, and we have no plans to divest.”
The CAPA report was prepared for private circulation, and was not available on its website; however, the consultancy had tweeted:
he Gulf airlines built up a global presence by stitching up alliances and picking up investments in airlines around the world including Jet Airways. It, however, reported failures in its two high profile investments — Alitalia and Air Berlin — after which it set out on a course correction strategy.
The airlines has also downsized its fleet. It has been phasing out its Boeing 777-200LRs, Airbus A330 freighters and Airbus A340 aircraft and also offering leave without pay to its pilots.
Experts believe a slowdown in the Gulf economies and decline in crude oil prices may be other factors that influence Etihad's growth plans.
02/03/18 Moneycontrol.com
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