Manchester City will return to action in the UEFA Champions League on Wednesday against RB Leipzig at the Etihad Stadium.
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.
Etihad has been in talks for a 24 per cent equity stake in Jet, valued at around $300 million, ever since India relaxed ownership rules and allowed foreign airlines to buy up to 49 per cent in local carriers.
The deal will improve debt-equity to a manageable level of 3.8 and support its share price, thereby lessening the pain for shareholders.
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The airline will utilise new Airbus A320s, scheduled for delivery this year, to accommodate much of the increased frequencies.
At the NSE, the stock zoomed up by 8 per cent to Rs 444.
Jet Aiways had almost signed the deal with Etihad when the new leaked and the stock price of the former shot up, causing the Abu Dhabi carrier to reconsider.
The airline has already decided to lease out an A330 to Etihad and plans to lease out two more this year.
The deal, involving Abu Dhabi carrier Etihad's purchase of 24 per cent stake in Naresh Goyal-led Jet Airways, was approved last month by the Competition Commission of India.
Against the backdrop of objections by some MPs, Civil Aviation Minister Ajit Singh on Tuesday strongly defended the Rs 2,058 crore (Rs 20.58 billion) Jet-Etihad deal, saying those opposing it were "long on politics and short on facts".
Abu Dhabi has asked for an increase in seat capacity post Jet-Etihad deal. If Indian government agrees, more fliers will use Etihad than Air India. This will spell disaster for the country's national carrier.
Amid controversy over the Jet Airways-Etihad deal, the Prime Minister's Office on Tuesday said the stake sale matter was still under examination and the issues raised have been referred to various concerned ministries.
The Union Cabinet on Thursday cleared the Rs 2,058 crore (Rs 20.58 billion) stake sale deal between Jet Airways and Abu Dhabi carrier Etihad.
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Former Air India Executive Director Jitender Bhargava filed the appeal challenging the decision of the Competition Commission of India to clear the Jet-Etihad deal without carrying out a detailed assessment.
Manmohan Singh clarifies his office's involvement in the deal that's facing criticism from the opposition and the media.
Airline now financially more stable but still in the doldrums as the operating environment remains tough.
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Jet Airways on Friday said its 24 per cent stake sale to the gulf carrier Etihad will bring down its debt to $1.5 billion from the current $2.1 billion.
Etihad is in talks to pick up a 24 percent stake in Jet.
Paving way for closure of long-pending Jet-Etihad deal, fair trade regulator CCI on Tuesday approved the proposed acquisition of 24 per cent stake in the Naresh Goyal-led Indian carrier by Abu Dhabi-based airline.
The Home Ministry has conveyed to the Department of Economic Affairs (DEA) that it has not given security clearance to the Abu Dhabi-based Etihad Airways' proposal to buy a 24 per cent stake in Jet Airways.
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Abu Dhabi-based Etihad Airlines has agreed to halve the number of directors on the Jet Airways Board to two posts under the Rs 2,058 crore deal, giving the Indian promoters 'effective control' of the carrier.
The move comes amid expectations that the government would allow foreign airlines to invest directly in Indian carriers.
The Rs 2,058 crore (Rs 20.58 billion) deal between Jet Airways and Etihad Airways will benefit passengers, as increased competition will bring down air fares, aviation sector experts said.
Has also sought permission to share with Virgin Atlantic for new routes in Britain.
Jet Airways scrip on Thursday ended nearly 11 per cent higher after the company announced plans to sell 24 per cent equity to Etihad Airways for about Rs 2,058 crore.
The Bharatiya Janata Party on Wednesday demanded that the government order a CBI inquiry monitored by the Supreme Court to find out the manner in which the Jet-Etihad deal was carried out in "half-cooked" and "objectionable" manner.
Cheering the move, shares of Jet opened the day on a bullish note and further jumped 7.26 per cent to Rs 414.70 on the Bombay Stock Exchange.
The Abu Dhabi-based airline is busy raising its brand recall, to catch up with Emirates.
UAE carrier Etihad Crystal Cargo on Wednesday launched its weekly freighter services from Delhi, after connecting Mumbai and Chennai earlier this year.
Manchester United have lost 11 of their 27 league matches this campaign, two more than all of last season. The two previous seasons with 12 league losses (2013-14 and 2021-22) led to managerial changes.
Barcelona made a disappointing start to their Champions League campaign by losing 2-1 to AS Monaco on Thursday.
Air India (AI)'s rise could be at the expense of three "super-connector" hubs - Doha in Qatar, and Dubai and Abu Dhabi in the UAE - as the Indian passenger would any day prefer direct flights of their national airline that is providing excellent on-time service, Arved von zur Muehlen, chief commercial officer of Saudia Airlines, said on Thursday.
The spokesperson in the Ministry of External Affairs said diplomats deal with a variety of issues and it was normal for them to collect information, assess them and send report to the government back home.
Etihad last year picked up 24 per cent stake in Jet Airways
Etihad plans 75 per cent travel beyond Abu Dhabi; airports cry foul.
GMR, GVK have taken up the issue with civil aviation ministry.
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