Etihad Airways will soon decide whether to invest in India’s Jet Airways or the grounded Kingfisher Airlines as early as next week.
According to LiveMint, a local business newspaper from the Hindustan Times in collaboration with the Wall Street Journal, a deal will be announced before the Christmas holidays.
As previously reported (see story here), Etihad had been eyeing Jet Airways as soon as the Indian government ruled in favour of allowing foreign carriers to buy stakes of up to 49 per cent in a local carrier.
On 13 December, 2013, Kingfisher submitted an announcement to the Bombay Stock Exchange stating that the carrier “has been deliberating various alternatives to improve the financial position of the company” and that “it has been advised that a fresh infusion of capital by a financial or strategic, Indian or non-resident investor is a possible alternative.”
Business Traveller will report on Etihad’s final decision as soon as possible. For more information, visit www.etihadairways.com