Etihad-Jet deal to boost India air access

Etihad-Jet deal to boost India air access
By admin


Etihad’s equity alliance is set to expand its reach into India as it finalised its acquisition of a 24% stake in Mumbai-based Jet Airways.

All necessary Indian regulatory approvals were obtained by November 12, giving the green light for Jet’s allocation of 27,263,372 equity shares to Etihad.

Chairman of Jet Airways Naresh Goyal highlighted the benefits of the deal for the Indian aviation sector.

“The infusion of foreign direct investment in the aviation sector will result in economies of scale, grow traffic at our airports, and create job opportunities,” he said. “I am confident that this investment will greatly benefit all our stakeholders whilst significantly benefitting our customers who will now have access to a more expanded global network.”

The tie-up will also enhance connectivity for leisure and business travellers from both India and the world at large, he added.

Meanwhile, Etihad president and chief executive James Hogan underlined the importance of the Indian aviation market.

“India is one of the largest and fastest-growing markets in the world and a key part of the Etihad Airways growth strategy,” he said.

“Through this association, Etihad Airways and Jet Airways will both be strengthened, as will the economies of India and the UAE. By linking our two networks and adding new flights, new routes and more code-share options, travel to, from and within India will become much easier.”

Under the deal, both Hogan and his fellow nominee director James Rigney have been appointed additional directors on the board of Jet Airways with immediate effect.

The collaboration will begin immediately with details of the network and service benefits that will be implemented under the deal to be revealed shortly.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

Latest News

  • Business
  • News

Iconic Perth waterfront redevelopment moves to next phase

Plans for an iconic waterfront precinct have taken another step forward today, with the State Government to undergo Project Definition Phase planning for the redevelopment of the Perth Convention and Exhibition Centre (PCEC). The proposed redevelopment would transform Perth’s waterfront and create a long-term economic boost for Western Australia, unlocking a new pipeline of construction […]

  • Conferences
  • Tour Operators
  • Tourism

Uplifting messages shared at G Adventures Tourism Summit in Jaipur

Travel has the power to transform communities, lift people out of poverty and give women independence. There were among the important messages coming out of GX India: World Community Tourism Summit which wrapped up in Jaipur on Friday. Among the special guests at the summit, which is set for Jordan in 2025, were Lonely Planet […]