Etihad takes 24% stake in India’s Jet Airways

Etihad Airways invests $379 million in Jet Airways to form a strategic alliance under India’s FDI policy.

Etihad takes 24% stake in India’s Jet Airways

The United Arab Emirates’ Etihad Airways has agreed to pay $379 million for a 24% stake in India’s Jet Airways, in an alliance that aims to benefit both national carriers. The move follows a recent decision by the Indian government to allow foreign holdings in the domestic airline industry to reach as much as 49%.

Etihad will pay Rs754.74 $13.95 each for 27.3 million new shares in Jet, equivalent of Rs20.6 billion, and at a...

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