Abu Dhabi’s Etihad Airways paid US$ 70 Million to Jet Airways to buy three pairs of Jet’s slots at London’s Heathrow Airport, the Gulf carrier disclosed. This purchase is part of a sale and leaseback agreement signed on February 26, 2013, and Jet would continue flying to London using the slots. Etihad is currently in talks with the Jet management to acquire a stake in the Indian civil aviation firm, and all indications are that further investment into the airline will
continue in future. Shares of Jet Airways surged by over 18% in trade on February 27, 2013. Reports have it that Etihad is likely to buy upto a 24% stake in Jet Airways for US$ 400 Million, and is likely pay a large chunk of this in the first tranche of the deal itself.
Menu