A PYMNTS Company

Singapore: Etihad, Jet seeking antitrust immunity

 |  June 20, 2014

Just one day after reports emerged that UAE-based Etihad and India-based Jet Airways, which have inked a joint venture deal, are under competition scrutiny in Singapore, Etihad has clarified that the companies are seeking antitrust immunity in various jurisdictions, including in Singapore.

”We wish to clarify that Following Etihad Airways’ investment in Jet Airways, bot the parties have applied for antitrust immunity,” the UAE airline said in a statement.

The joint venture involves Etihad acquiring a 24 percent stake in Jet. While Indian regulators approved the deal, the Competition Commission of Singapore was reported to have opened an inquiry of the partnership.

”In this regard, the Competition Commission of Singapore is currently evaluating the joint application for antitrust immunity,” Etihad said.

Full content: Financial Express

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.