Jet Airways shares hit air pocket, tank 7% on fresh concerns over Eithad deal

Dec 14 2013, 08:57 IST
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SummaryAbu Dhabi-based Etihad Airways had in November entered into a deal to buy 24% in Jet Airways.

own course independently. The matter would come up for hearing on December 19.

In his petition to Compat, Bhargava has called the CCI's approval to the deal "bad in law, fraught with inconsistencies and issued without proper analysis of market conditions”.

The petition is critical of the order terming it riddled with "failure to conduct an independent analysis of the amended transaction documents", "failure to consider third-party concerns", "incorrect analysis of the relevant market", "incomplete competition analysis of the proposed combination" and "no assessment of barriers to entry". As per Bhargava's petition, if the proposed combination is permitted, passengers are likely to be deprived of airline choices on key routes and may have to pay higher prices with fewer options on planes, timings and service quality.

Air India is already opposed to the deal saying it would divert outbound traffic from India to a foreign carrier.

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