Etihad offers India concessions on Jet deal
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Etihad offers India concessions on Jet deal

Etihad offers India concessions on Jet deal

Etihad Airways has informed the Indian finance ministry it has agreed to cut by 50% the number of directors it can appoint on the Jet Airways board to two, giving the Indian promoters effective control of the carrier, The Telegraph has reported. The move seeks to address the concerns of the Foreign Investment Promotion Board (FIPB) and market regulator Sebi over the effective control after the share sale, which is seen as the largest FDI in aviation. Besides the finance ministry, the department of industrial policy and promotion will be examining the revised proposal over the weekend so that a firm view can be taken at the meeting on Monday.

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