Etihad May Acquire 24% of Jet Airways
The Wall Street Journal is reporting that Abu Dhabi-based Etihad Airways may buy a 24% stake in India’s Jet Airways. The deal would cost Etihad roughly 16 billion rupees ($297 million).
“I would believe the deal is as good as done,” a senior official in India’s civil aviation ministry told the Journal. He also said that Jet Airways would probably shift its international hub away from Brussels to Abu Dhabi.
Etihad, the state-owned flag carrier of the Emirate of Abu Dhabi, also owns 29% of Air Berlin and recently acquired Air Berlin’s topbonus frequent flyer program.
Last September, India’s government changed the rules for foreign ownership of airlines. A foreign carrier can buy up to 49% of an Indian airline.
(Photo: Accura Media Group)