a buying spree in recent years to compete with regional rivals Emirates and Qatar Airways. The Abu Dhabi carrier has taken stakes in Virgin Australia, Aer Lingus of Ireland and raised its share holding in Air Berlin and Air Seychelles.
Top executives of Jet Airways and Etihad had met Indian government officials including civil aviation minister Ajit Singh, commerce minister Anand Sharma and finance minister P Chidambaram in January. A formal deal was expected to be signed after Etihad completed due diligence on Jet Airways in the first week of February.
“We are doing our due diligence in the next week. We will present it to our board and take it from there,” James Hogan, chief executive of Etihad said on February 4 speaking at a press conference after the airline reported its annual results.