Jan 22 2013
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Etihad, Jet to announce deal Friday, reports
The Abu Dhabi-based airline has been in talks with the Indian carrier with reports of buying a stake in the latter that could pay up to $330m
The Abu Dhabi-based Etihad Airways , which is currently involved in talks with Jet Airways to buy a stake in the Indian carrier, may announce details by the end of this week.
Talks between the two aviation juggernauts was confirmed by Jet to Reuters in a statement earlier, with a spokesperson adding: "Various structures are being explored by the legal and commercial teams and care being taken to ensure that all the Indian regulatory requirements are fully complied with."
Emirates 24|7 is awaiting a response from both Etihad and Jet.
In September 2012, the Indian government opened doors to welcome in foreign carriers to purchase stakes up to 49 per cent with their local airlines.
This came as the country's national airline, Air India and private carrier, Kingfisher Airlines, were laden with debt.
© Emirates 24|7 2013
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