New Delhi: Naresh Goyal promoted Jet Airways and Abu Dhabi based Etihad Airways is expected to conclude a 24% stake sale deal within a week, sources from Jet airways confirmed. This puts rest to the speculation that Jet airways will announce the deal on February 1, just when it is going to announce its third quarter results. The stake-purchase agreement with Jet, second largest domestic passenger market share, will make Etihad the first foreign carrier to buy into an Indian airline after the cabinet approved 49% foreign direct investment (FDI) by foreign carriers in domestic airlines.
Etihad Airways Chief Executive Officer (CEO) James Hogan and Jet Chairman Naresh Goyal met Ajit Singh, the civil aviation minister and Anand Sharma, the commerce minister. Hogan said discussions with Indian government officials on its bid to forge a deal with Jet Airways (India) Ltd. were “very good.”
A senior government official of the commerce ministry said, “The two executives told Anand Sharma that they will submit an application with the Foreign Investment Promotion Board (FIPB).”
31/01/13 Disha Kanwar/Business Standard
