The proposed deal between Jet Airways and Etihad is likely to be concluded within the next two weeks, said Civil Aviation Minister Ajit Singh.
“Etihad’s proposed move to pick up around 24 per cent stake in Jet Airways is likely to receive all regulatory clearances in the next two weeks,” he told reporters on the sidelines of Aero India 2013 at the Yelahanka Air Force station.
This would be the first such deal between an Indian carrier and a foreign company after the government liberalised the foreign direct investment (FDI) norms last year to allow overseas carriers to pick up to 49 per cent stake in domestic airlines.
Top officials of Jet Airways and Etihad have already held discussions with the aviation and commerce ministries to inform the government about the deal.
07/02/13 Business Standard
