Etihad to have 2 directors even if it dilutes stake to 15%
Alleging that something was fishy in the Jet-Etihad deal, BJP today demanded that the Prime Minister's Office should come clean on the issue.
More than 1,000 people have died from coronavirus in the UK as of 27 March, and more than 17,000 have tested positive for the virus, according to figures from the Department of Health and Social Care.
A summary of Thursday's action in the Premier League.
The bulk of Indian carriers flying to Dubai are low-cost carriers, which include IndiGo, Air India Express, and SpiceJet.
This follows the Union Cabinet approving enhanced traffic rights between India and Abu Dhabi.
How the first FDI in aviation was achieved.
The Foreign Investment Promotion Board (FIPB) on Monday cleared Abu Dhabi-based Etihad Airlines buying 26 per cent stake in Jet Airways for Rs 2,058 crore (Rs 20.58 billion) with some conditions.
Making India a pivot of its growth, UAE's national airline Etihad Airways will launch new flights to Kochi and Thiruvananthapuram, as its two new destinations, and introduce three new flights to Delhi.
On a day when service tax department detained another Kingfisher plane for default, the second in two days, the airline announced it was in discussions with Abu Dhabi-based Etihad Airways for a stake sale which could revive the troubled airline's fortune.
The airline's pricing strategy and capacity show it is targeting leisure travellers and corporate clients, rather than blue-collar workers migrating to Abu Dhabi.
Jet Airways remains the number one airline serving foreign routes.
Inter Milan escaped Etihad Stadium with a surprise 0-0 draw against Manchester City in the Champions League on Wednesday.
Will be the first choice if Naresh Goyal decides to sell stake in future.
Objections were being raised by senior Bharatiya Janata Party leader Jaswant Singh, Communist Party of India's Gurudas Dasgupta, Dinesh Trivedi (Trinamool Congress) and Janata Party chief Subramanian Swamy over the deal, each of whom had shot off separate letters to Prime Minister Manmohan Singh.
Kingfisher is in discussion with various investors, including Etihad, for equity investments in the company, but matters are merely at negotiation stages, it said in a statement to the stock exchange.
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.
Jet's flights to Abu Dhabi could be used to carry passengers from India headed for the US and Europe.
India, UAE yet to conclude bilateral investment promotion and protection agreement.
The two parties have been in talks for a month and a half.
A round-up of Saturday's action in the English Premier League.
Etihad has high hopes from Jet Airways deal in which it bought out majority stake in 2013.
The long-pending Jet-Etihad deal envisaging foreign investment of Rs 2,058 crore will come up before Foreign Investment Promotion Board (FIPB) for approval on July 29.
Jet and Etihad stand to benefit from cost savings and synergies in areas such as fleet acquisition, maintenance and training.
The proposal will now be considered by the Cabinet Committee on Economic Affairs.
Fresh troubles are brewing for Jet-Etihad deal.
The long-range planes will be delivered from early 2014.
Competition Commission has held on to its observation about Etihad gaining joint control in Jet Airways and "significant" rights to appoint directors with a 24% stake purchase, while rejecting a plea to "rectify" its order that approved the deal earlier this month.
Naresh Goyal-led Jet has also changed the shareholders agreement and amended the investment agreement and the articles of association, as suggested by the Foreign Investment Promotion Board, headed by DEA Secretary Arvind Mayaram, official sources said.
In a post on the microblogging platform 'X' on Saturday, passenger Vineeth K said that even though he was getting cheaper fares with Gulf carrier Etihad, he had opted for Air India as it operates a non-stop service to the US.
Manchester City squandered a three-goal lead to draw 3-3 with Feyenoord in the Champions League on Tuesday.
Sebi wanted Jet to convince it that the deal did not amount to joint control alongside promoter Naresh Goyal.
Sheikh Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet Indian Trade Minister Anand Sharma to discuss the deal.
The ministry of corporate affairs has raised questions on Etihad's rights to nominate three directors on the board and, despite being a minority shareholder in the company, decide on the vice-chairman.
Jet-Etihad deal documents among those leaked: CBI
IMAGES from the Premier League matches played across England, on Saturday.
To sell five Boeing 777s, replacing these with cheaper aircraft
With air traffic between India and the UAE on the rise, the Gulf state's national carrier Etihad Airways is on the move to start services to Indian cities of Bangalore, Chennai and Hyderabad.
Describing the over Rs 2,000 crore (Rs 20 billion) business proposal between Jet and Etihad airlines as a win-win deal, Civil Aviation Minister Ajit Singh on Thursday said it will be beneficial for flyers.
