Jet Airways board to clear Etihad deal by weekend

Updated: Fri, Feb 15 2013. 01 03 PM IST

Mumbai: The board of directors of Jet Airways (India) Ltd, the country’s second largest carrier by passengers carried, is expected to meet this weekend to approve a proposal to sell a 24% stake to Etihad Airways PJSC, according to two persons familiar with the development.

A formal announcement of the deal is expected by the first half of next week in Abu Dhabi, they said.

“As has been widely reported, we have been in discussion with Jet Airways. As part of this process, a senior delegation, including the president and chief executive officer James Hogan and board members flew to India last week and met with senior Indian aviation officials,” Etihad Airways said in an emailed statement on Friday. “We are currently undertaking due diligence, which will be presented to the Etihad Airways board. If, or when, we make an investment decision, we will announce this in line with the appropriate regulatory and commercial requirements.” 

AMIT GUPTA

PGDM 2nd