Etihad-Jet deal due by end of September

Etihad Airways is confident that it will gain the necessary approvals to execute its agreement to take a stake in Jet Airways by the end of September according to Flightglobal.
Time Aerospace thumbnail

The online data service said that Etihad chief executive James Hogan and Jet chairman Naresh Goyal (pictured right)  had agreed to extend a 'long-stop' deadline for the deal to be approved to the end of September.
Under the proposed deal, Etihad will take a 24% stake in Jet as part of a wide-ranging alliance between the two carriers. Etihad has also agreed to buy a 50% stake in Jet's Jet Privilege loyalty programme and also acquire its slots at London Heathrow airport under a sale and leaseback arrangement.
Jet will be routing a number of international services via Abu Dhab as a result of the deal.
A spokesman for Etihad said clearances from the Competition Commission of India and the Indian government are expected "imminently."
 

Related content