New Delhi: Jet Airways and Etihad have given themselves one more month to complete the deal, wherein Jet will sell a part of its stake to the Abu Dhabi-based carrier. The two were to have completed the deal by end-August but extended the deadline to end-September as regulatory approvals are still to come in.
A statement from Etihad Airways’ headquarters says: “We have agreed to extend the long-stop date till the end of September as we continue to work through the details to finalise the regulatory process.”
This is the second successive extension that the two sides have agreed to since April when Jet Airways agreed to sell a 24 per cent stake for about Rs 2,050 crore.
The two sides were initially supposed to complete the deal by the end of July.
The deal ran into trouble with both the Securities and Exchange Board of India and the Foreign Investment Promotion Board raising questions.
30/08/13 Ashwini Phadnis/Business Line
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A statement from Etihad Airways’ headquarters says: “We have agreed to extend the long-stop date till the end of September as we continue to work through the details to finalise the regulatory process.”
This is the second successive extension that the two sides have agreed to since April when Jet Airways agreed to sell a 24 per cent stake for about Rs 2,050 crore.
The two sides were initially supposed to complete the deal by the end of July.
The deal ran into trouble with both the Securities and Exchange Board of India and the Foreign Investment Promotion Board raising questions.
30/08/13 Ashwini Phadnis/Business Line
