Abu Dhabi: Etihad Airways is working towards meeting a July 31 deadline to win regulatory approvals on its planned $379 million purchase of a stake in India's Jet Airways, the Abu Dhabi-based carrier said on Wednesday.
Etihad, which is on an acquisition drive, agreed in April to buy a 24 percent stake in Jet in a deal that would provide India's largest carrier with a deep-pocketed global partner as well as cash to help pay off debts.
But political concerns and scrutiny by Indian market regulators have delayed the deal and it risks missing a so-called "long-stop" date of July 31, before which regulatory approvals had to be secured.
17/07/13 Economic Times
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Etihad, which is on an acquisition drive, agreed in April to buy a 24 percent stake in Jet in a deal that would provide India's largest carrier with a deep-pocketed global partner as well as cash to help pay off debts.
But political concerns and scrutiny by Indian market regulators have delayed the deal and it risks missing a so-called "long-stop" date of July 31, before which regulatory approvals had to be secured.
17/07/13 Economic Times
