Etihad paid $379m for Jet Airways' 24% stake
Complex Made Simple

Etihad paid $379m for Jet Airways' 24% stake

Etihad paid $379m for Jet Airways' 24% stake

Etihad Airways has confirmed is acquisition of a 24% minority stake in Jet Airways for $379m, Reuters has reported. This followed a statement by the Indian carrier earlier yesterday that its board had approved the allotment to Etihad. The Abu Dhabi-headquartered airline will also make a $150m equity investment in Jet's frequent flyer programme and spend $70m to buy Jet's three pairs of Heathrow slots through the sale and leaseback agreement announced in February. As part of the deal Jet is to establish a hub in Abu Dhabi and expand its reach through Etihad Airways' global network.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved