Etihad board is likely to meet next week to firm up its investment plans in India. The board will consider proposal of both cash-trapped airlines Jet Airways and Kingfisher Airlines , reports CNBC-TV18 quoting sources.
It is learnt that Etihad-Jet talks may factor in two-part deal. Jet promoters hold 80% in the company through Tail Winds and is likely to issue warrants which can be converted to equities later. Post deal, Etihad is likely to hold 22-24% in Jet which currently has a debt of USD 2.3 billion.
Meanwhile, the Gulf carrier may also consider revival plans of Kingfisher. Earlier, Etihad had sought more clarity on operations and fund infusion from UB Group. According to sources, Etihad wants all dues cleared ahead of any possible deal.
01/01/13 CNBC-TV18/Moneycontrol.com
