Etihad’s Jet Airways Investment Raises Stakes in India
AIN AIR TRANSPORT PERSPECTIVE » APRIL 29, 2013 by NEELAM MATHEWS Jet Airways A330s will become a common sight in Abu Dhabi under an expanded alliance with Etihad. (Photo: Airbus) April 29, 2013, 11:21 AM Even as AirAsia India prepares to apply for a No Objection Certificate to start domestic operations, Abu Dhabi-based Etihad Airways has invested $379 million in India’s Jet Airways. The outlay gives Etihad a 24-percent share in India’s second largest carrier. Signs of the alliance became clear in February, when Etihad purchased three pairs of Jet’s Heathrow slots through a sale and leaseback agreement for $70 million. It plans to further inject $150 million through a majority equity investment in Jet Airways’ frequent flier program within the next six months. Etihad Airways’ investment in Jet Airways follows the minority equity stakes the airline took in Airberlin, Air Seychelles, Virgin Australia and Aer Lingus over ...