New Delhi: The stake sale deal of Jet Airways and Abu Dhabi based Etihad Airways may be finalized within a month, said a source in the aviation ministry.
It was earlier expected that the deal would be delayed till August as the Abu Dhabi carrier sought assurances following setbacks for several Gulf investors in India.
Etihad, which is expanding globally, has been in talks over an equity stake in Jet of 24%, valued at around $300 million since September after India relaxed ownership rules and allowed foreign airlines to buy up to 49% in local carriers.
Sources in the aviation ministry said, “The issues related to BIPA with UAE will take its own course. The government is finding ways to assure UAE government on investments into India.The deal could be finalized even before BIPA takes shape.”
17/04/13 Disha Kanwar & Reuters/Business Standard
