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Jet Etihad 24% deal expected within a week

Last updated on: January 31, 2013 20:10 IST

Jet Etihad 24% deal expected within a week

aresh Goyal promoted Jet Airways and Abu Dhabi based Etihad Airways is expected to conclude a 24 per cent stake sale deal within a week, sources from Jet airways confirmed.

This puts rest to the speculation that Jet airways will announce the deal on February 1, just when it is going to announce its third quarter results.

The stake-purchase agreement with Jet, second largest domestic passenger market share, will make Etihad the first foreign carrier to buy into an Indian airline after the cabinet approved 49 per cent foreign direct investment (FDI) by foreign carriers in domestic airlines.

Etihad Airways chief executive officer (CEO) James Hogan and Jet chairman Naresh Goyal met Ajit Singh, the civil aviation minister and Anand Sharma, the commerce minister.

Hogan said discussions with Indian government officials on its bid to forge a deal with Jet Airways (India) Ltd. were "very good."

Source: ANI