Etihad needs to revise Jet Airways deal, says chairman

Feb 17, 2013

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Abu Dhabi: Etihad Airways needs to revise its deal to buy a stake in India’s Jet Airways and it is too soon to say when a final agreement will be struck, the Abu Dhabi airline’s chairman told Reuters on Sunday.

Sheikh Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet with Indian Trade Minister Anand Sharma to discuss the matter.

File photo. Reuters

When asked if a Jet deal would be signed by March or April, Sheikh Hamed said: “I don’t know….we need to revise it.”

The terms of the possible deal have not been disclosed, but a government source said earlier this month Etihad was in talks to pick up a 24-percent stake in Jet for up to $330 million.

Reuters

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