New Delhi: Abu Dhabi-based Etihad Airways moved a step closer to picking up a 24 per cent stake in domestic carrier Jet Airways with the top officials of both airlines meeting Civil Aviation Minister Ajit Singh and the Commerce and Industry Minister Anand Sharma in anticipation of a deal being clinched soon.
It is learnt that both Etihad and Jet are likely to apply to the Foreign Investment Promotion Board (FIPB) for seeking clearance for Etihad’s proposal to pick up 24 per cent stake in Jet Airways. The Etihad delegation was led by its CEO James Hogan, and Jet Airways promoter Naresh Goyal represented the domestic carrier.
Talking to reporters after meeting the officials of Etihad and Jet, Civil Aviation Minister Ajit Singh said the Etihad delegation was here today [Thursday] and both parties had been in the consultation process for quite some time. “They are discussing details with Jet Airways. Any foreign airline investing money has a number of concerns — what’s the policy, what’s the cost structure so that you make money out of that. They have been discussing this deal for over a month,” he said.
31/01/13 Sujay Mehdudia/The Hindu
