New Delhi: The Foreign Investment Promotion Board (FIPB) is still studying the proposed Jet Airways-Etihad agreement even as the commerce and industry ministry has thrown its weight behind the deal by taking a liberal view on the FDI cap in civil aviation.
Ahead of the crucial meeting on July 29, the FIPB is scanning the commercial co-operation agreement between the two airlines to ensure that effective control is not passed into the hands of the Abu-Dhabi-based carrier.
The FIPB has a number of queries on the clauses of the deal. It had earlier raised objections to Etihad’s proposal that Jet should start flying from six more Indian cities. The Naresh Goyal-led airline now flies from nine cities.
Jet and Etihad have amended the shareholders’ pact to assure market regulator Sebi that effective control will remain with Goyal.Aviation analysts maintain that the backing of the industry department will help the airlines secure the FIPB approval.
23/07/13 The Telegraph
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Ahead of the crucial meeting on July 29, the FIPB is scanning the commercial co-operation agreement between the two airlines to ensure that effective control is not passed into the hands of the Abu-Dhabi-based carrier.
The FIPB has a number of queries on the clauses of the deal. It had earlier raised objections to Etihad’s proposal that Jet should start flying from six more Indian cities. The Naresh Goyal-led airline now flies from nine cities.
Jet and Etihad have amended the shareholders’ pact to assure market regulator Sebi that effective control will remain with Goyal.Aviation analysts maintain that the backing of the industry department will help the airlines secure the FIPB approval.
23/07/13 The Telegraph
