Etihad/Jet Airways tie-up deadline extended to September 30

Etihad Airways has had the deadline for its proposed 24%-stake acquisition in Jet Airways extended for a second time. 

The deadline for the Gulf carrier to finalize the USD600million deal was originally set for July 31 only to be extended to August 31. 

Etihad president and CEO James Hogan met with Jet Airways’ chairman Naresh Goyal in Mumbai over the weekend to review the progress made. 

In order for the deal to go through completely, Etihad must win approval from four Indian governmental bodies with India’s Foreign Investment Promotion Board having granted tentative approval thus far. 

The Competition Commission of India and the Indian government are also expected to greenlight the revised agreements shortly.

Source: CH-Aviation