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Order HereJet Airways shareholders have approved plans for Etihad Airways to take a major stake in the Indian carrier.
At an extraordinary general meeting in Mumbai Friday, the shareholders agreed to allow Abu Dhabi-based Etihad to take a 24% holding in preferential shares.
The allotment of the shares is subject to fulfillment of certain conditions, including the approval of India’s Foreign Investment Promotion Board and the nation’s Competition Commission.
The two airlines signed their agreement last month, with Etihad paying $379 million for its shareholding as well as investing a further $220 million in Jet.
The deal gives Etihad a bridge into the rapidly expanding Indian market. The agreement will bring expanded codesharing, integrated frequent flyer programs, plus new routes between India and Abu Dhabi. Etihad CEO James Hogan has described the Indian market as “fundamental to our business model of organic growth partnerships and equity investments.”
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereJet Airways shareholders have approved plans for Etihad Airways to take a major stake in the Indian carrier.
At an extraordinary general meeting in Mumbai Friday, the shareholders agreed to allow Abu Dhabi-based Etihad to take a 24% holding in preferential shares.
The allotment of the shares is subject to fulfillment of certain conditions, including the approval of India’s Foreign Investment Promotion Board and the nation’s Competition Commission.
The two airlines signed their agreement last month, with Etihad paying $379 million for its shareholding as well as investing a further $220 million in Jet.
The deal gives Etihad a bridge into the rapidly expanding Indian market. The agreement will bring expanded codesharing, integrated frequent flyer programs, plus new routes between India and Abu Dhabi. Etihad CEO James Hogan has described the Indian market as “fundamental to our business model of organic growth partnerships and equity investments.”
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereJet Airways shareholders have approved plans for Etihad Airways to take a major stake in the Indian carrier.
At an extraordinary general meeting in Mumbai Friday, the shareholders agreed to allow Abu Dhabi-based Etihad to take a 24% holding in preferential shares.
The allotment of the shares is subject to fulfillment of certain conditions, including the approval of India’s Foreign Investment Promotion Board and the nation’s Competition Commission.
The two airlines signed their agreement last month, with Etihad paying $379 million for its shareholding as well as investing a further $220 million in Jet.
The deal gives Etihad a bridge into the rapidly expanding Indian market. The agreement will bring expanded codesharing, integrated frequent flyer programs, plus new routes between India and Abu Dhabi. Etihad CEO James Hogan has described the Indian market as “fundamental to our business model of organic growth partnerships and equity investments.”
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.