Will be the first choice if Naresh Goyal decides to sell stake in future.
Etihad said it would not participate in the rights issue or infuse fresh funds under the current terms and conditions of the resolution plan
Al-Nahayan wants govt assurance on protection of its foray, meets Anand Sharma.
Jet and Etihad stand to benefit from cost savings and synergies in areas such as fleet acquisition, maintenance and training.
The airline has already decided to lease out an A330 to Etihad and plans to lease out two more this year.
Etihad Airways, the national airline of the United Arab Emirates, has launched its daily services to Mumbai and plans to start thrice-a-week flights from Abu Dhabi to Delhi from December.
The Competition Commission on Thursday imposed Rs 1 crore fine on Abu Dhabi-based Etihad for non-disclosure of full information in the course of seeking approval for its purchase of 24 per cent stake in Jet Airways.
Etihad is in talks to pick up a 24 percent stake in Jet.
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.
The two companies are hopeful of winning over at least one regulator's go-ahead this week itself for their deal, which happens to be the first FDI by a foreign airline into India.
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.
To sell five Boeing 777s, replacing these with cheaper aircraft
Shares of Jet Airways surged 16 per cent to close at Rs 505.7 on Friday on speculation that Etihad Airways might buy 24 per cent in the company.
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.
Naresh Goyal becomes the country's first airline promoter to receive foreign investment.
The proposal will now be considered by the Cabinet Committee on Economic Affairs.
The airline notification to an exchange does not name the shareholder. It said the fund-raising would be subject to regulatory and corporate approvals.
Currently, Etihad has 24 per cent shareholding in Jet Airways
The Indian government allowed foreign airlines to buy up to 49 per cent stakes in Indian carriers in September 2012.
Though public shareholding in Jet is already down to the mandated 25 per cent, the regulator wants its promoters to pare their stake further.
According to media reports, Securities and Exchange Board of India is debating whether to reopen the issue of an open offer for shareholders of Jet Airways after another regulator said that Etihad enjoys joint control over the Indian airline.
According to reports Etihad Airways chairman Sheikh Hamed bin Zayed al-Nahayan said the Abu Dhabi-based carrier needs to revise its deal to buy a stake in the Indian carrier and it was too soon to say when a final agreement between the two carriers would be struck.
Regulator believes Jet Airways deal triggers open offer
Concerns over effective control not addressed in the second revised shareholders' agreement, says DIPP; Sebi opposes commercial cooperation pact
Etihad to have 2 directors even if it dilutes stake to 15%
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.
Taking on competition from no-frill carriers, Jet Airways on Saturday launched a week-long sale of seven lakh low-fare domestic air tickets to attract air travellers who could use them to fly from August 10 onwards.
No reason was cited for rescheduling of the meeting.
May include 'influencing a company's major policy decisions' in the current meaning.
Shares of Jet Airways on Wednesday tanked over 10 per cent in the morning trade as the airline has posted its highest-ever annual loss of Rs 4,129 crore (Rs 41.29 billion).
Etihad earns about 23 per cent of its passenger revenue from code-share and equity partners, and this would increase after its tie-up with Jet.
The appointment followed the resignation of Nikos Kardassis on June 7 after he served two terms as CEO between 1993-1999 and again from October 2009 till May 2013.
The top executives who have put in their papers with immediate effect include Jet's chief executive officer (CEO) Vinay Dube, chief finance officer (CFO) and deputy CEO Amit Agarwal and company secretary Kuldeep Sharma.
The hike in Indian passengers travelling to or through Dubai International airport has been caused by the fact that seven Indian and Dubai airlines operated to and from 20 Indian cities, which have a total of 185 flights every week, Dubai Airports' media relations manager Zaigham Ali said in New Delhi.
Shares of Jet Airways on Wednesday surged nearly 20 per cent amid reports that some headway has been made in the deal between the Indian carrier and the Abu Dhabi-based carrier Etihad.
Shares of Jet Airways on Friday tanked nearly 6 per cent, eroding Rs 282 crore from its market capitalisation amid investor concerns whether its stake-sale deal with the Abu-Dhabi based carrier Etihad would materialise.
The possible date for bidders to submit a resolution plan to the adjudicating authority -- National Company Law Tribunal (NCLT) -- is September 27.
Six of these aircraft are currently on lease to Etihad Airways, set to start returning to Jetair's fleet in June
But the Abu Dhabi-based airline would first bolster its own network with traffic from India before Jet's turnaround.
Likely to rake up the issue of open offer exemption.
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