homeaviation NewsEtihad unsure about Jet Airways' rescue plan, says report

Etihad unsure about Jet Airways' rescue plan, says report

Etihad unsure about Jet Airways' rescue plan, says report
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By CNBC-TV18 Mar 7, 2019 11:37:23 AM IST (Updated)

Etihad Airways has hit the pause button on Jet Airways’ rescue deal as the UAE-based carrier is seeking clarity on several contentious issues raised during negotiations, reported Mint.

Etihad Airways has hit the pause button on Jet Airways’ rescue deal as the UAE-based carrier is seeking clarity on several contentious issues raised during negotiations, reported Mint.

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The new roadblock could affect the ongoing negotiations between the two carriers and any failure could seriously jeopardise the hope of the revival of Jet Airways, the report said citing people close to the development.
As per the FDI laws, foreign investors can own up to a 49 percent stake in a domestic airline, provided they have a local partner. The report said that Etihad is yet to find a local partner to replace Jet’s founder-chairman Naresh Goyal.
Additionally, as per the report, Etihad wants an exemption from the open offer that may be triggered if the ownership structure of the company changes after Goyal’s exit.
With Etihad’s board expected to meet next week to discuss the potential investments, the carrier and the lenders are yet to get a positive response from any of the Indian business houses, said the report.
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