Air, Business, Logistics

Etihad takes Jet stake

[ April 26, 2013   //   ]

Etihad Airways is to take a 24% stake in Jet Airways of India. It includes the purchase of Jet Airways’ three pairs of Heathrow slots through a sale and lease back agreement, although Jet willcontinue to use them. Under the deal, which is subject to regulatory and shareholder approval, the airlines will combine their network of 140 destinations, with Jet Airways establishing a Gulf gateway in Abu Dhabi and expanding its reach through Etihad Airways’ growing global network.