Etihad Airways is all set to pick 48 percent stake in debt-ridden carrier Kingfisher Airlines for a sum of over Rs 3000 crore, as mentioned in few media reports. Abu Dhabi-based carrier would initially acquire 30 percent stake of the company in December, while the remaining 18 percent would be purchased by August, 2013.
Etihad was earlier reported to be close a deal to acquire 24% stake in Jet Airways for a sum of Rs 2200 crore. Jet Airways, along with its subsidiary JetLite, is the country’s second largest airline by domestic passenger’s market share.
