Abu Dhabi-based Etihad Airways and Mumbai-based Jet Airways today announced that they have closed the transaction of a 24% equity stake by Etihad Airways in Jet Airways. Jet Airways’ Boeing 777-300ER In a release they said “All requisite Indian regulatory approvals had been obtained by November 12th, 2013. Jet Airways has, on November 20th, 2013,…
by Devesh Agarwal The aviation enthusiast community may not have too much respect for The Economic Times newspaper when it comes to technical accuracy when reporting aviation related stories, but hats off to a great article that goes in to the depths on how the deal for a 24% stake by Etihad Airways in Jet…
by Devesh Agarwal On Tuesday, beleaguered Indian carrier, Jet Airways cleared its final hurdle in its $397 million quest to sell a 24% stake to Abu Dhabi based Etihad Airways PJSC, when the Competition Commission of India (CCI), cleared the deal paving the way for the Naresh Goyal promoted Jet to receive desperately needed cash…
by Devesh Agarwal The 24% stake sale by India’s Jet Airways to Abu Dhabi’s Etihad Airways has been finally cleared by India’s Foreign Investment Promotion Board (FIPB), albeit with conditions, after the share holder agreement (SHA) was changed to incorporate the apprehensions of the government of India. One of the conditions imposed by the FIBP…
by Devesh Agarwal Majority of Jet’s A330 fleet parked at New Delhi’s IGI airport In what is not a very uncommon development, The Economic Times reports, India’s financial markets’ watchdog, the Securities Exchange Board of India, better known as SEBI, has written to the Foreign Investment Promotion Board (FIPB), the approver of FDI proposals, expressing…
by Devesh Agarwal We welcome your feedback and comments on the Jet-Etihad deal. Without a doubt the humongous increase in seat capacity offered to the Abu Dhabi government by India has some quid-pro-qua links to the Jetihad deal. There is also talk that the bilaterals seat increase was to pacify the UAE government after their…
by Devesh Agarwal Image courtesy Wikipedia Aviation insiders have known for many years what AirAsia boss Tony Fernandes dared publicly state the day before yesterday, after his meeting with civil aviation minister Ajit Singh. Vested interests have shaped, nay, distorted Indian civil aviation policy. One of the more shameful rules of Indian civil aviation is…
Ever since the Jetihad deal was announced in late April, where Jet agreed to sell 24 per cent stake for Rs. 2,042 crore to Etihad Airways, we industry watchers were waiting to see when the casualties of senior management at Jet Airways would commence. Officially Etihad will get three seats on the Jet board, including…
by Devesh Agarwal Jet’s A330 fleet is expected to be deployed to Abu Dhabi The 24% stake sale by Jet Airways to Abu Dhabi owned and based Etihad Airways is a bonanza for both the airlines. For Jet Airways it gets a significant amount of cash it desperately needs to reduce part of its massive…
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