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UAE/India: Airway merger one of first international investments in Indian airline

By  |  May 2, 2013
UAE/India: Airway merger one of first international investments in Indian airline

United Arab Emirates-based Etihad Airways has reportedly requested approval for the company to acquire a 24 percent stake in competitor Jet Airway, based in India. The deal marks one of the first foreign investments in an India-based airline since September 2012, when ownership restrictions were lifted. Etihad has approached the Competition Commission of India by formally submitting its application for the deal last Wednesday, say reports. The news comes as Jet Airways has also looked for the go-ahead to sell the 24 percent stake, which the Foreign Investment Promotion Board must approve. According to reports, the deal also marks one of the first airline transactions to be notified to the CCI.

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    Full Content: The Hindu Business Line

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