Etihad Airways looks to be closing in on a deal to take a stake in Indian carrier Jet Airways.
Speculation has been mounting that the Gulf carrier will invest in the loss-making Jet, and local media including the The Economic Times and arabianbusiness.com report that a deal could be announced on Friday.
The reports suggest Etihad will take a 24 per cent stake in Jet Airways, adding to recent investments in airlines including Air Berlin, Air Seychelles and Aer Lingus.
In September last year the Indian government relaxed restrictions regarding foreign investment in its airlines, allowing carriers to buy stakes of up to 49 per cent in the country’s airlines.
Visit etihadairways.com, jetairways.com.
Report by Mark Caswell
