Jet Airways’s 24% stake sale deal with Etihad Airways today

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Aviation minister Ajit Singh with Jet Airways promoter Naresh Goyal and others Aviation minister Ajit Singh with Jet Airways promoter Naresh Goyal and others
SummaryJet Airways is likely to sign a term sheet and announce a 24% stake sale to Abu Dhabi’s Etihad Airways.

Abu Dhabi to India route has 119 weekly flights, which is significantly less than the Dubai to India route, which has 352 weekly flights and is dominated by Emirates.

Jet Airways along with its low-cost brand Jet Konnect has over 500 daily flights to 73 destinations in India and abroad. The airline has 21 international destinations and 10 of these destinations are in the Gulf countries.

Etihad, a relatively new airline, has been growing by picking up minority stakes in various airlines across the world in recent years. The Abu Dhabi-based carrier owns a 10% stake in Australian airline Virgin Australia, a 2.89% stake in Ireland-based Aer Lingus, a 40% stake in Air Seychelles and a 29.1% stake in German carrier Air Berlin.

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