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Etihad board to consider investment plans in next week

01 Jan 2013 Evaluate

Etihad board is likely to meet next week to finalize upon its investment plans in India. The company’s board will consider proposal of both cash-strapped airlines Jet Airways and Kingfisher Airlines.

However, buying into Jet is seen as more lucrative for Etihad as the two carriers already have a code-sharing agreement and could target the market share of state-owned Air India and Dubai-based Emirates Airline, the latter of which dominates routes between India and the Middle East. Meanwhile, the Gulf carrier may also consider revival plans of Kingfisher. Earlier, Etihad had sought more clarity on operations and fund infusion from UB Group.

Jet Airways currently operates a fleet of 99 aircraft, which include 10 Boeing 777-300 ER aircraft, 11 Airbus A330-200 aircraft, 58 next generation Boeing 737-700/800/900 aircraft and 20 modern ATR 72-500 turboprop aircraft.  While, Kingfisher Airlines’ operating license lapsed on 31st December 2012 and it has to submit a concrete action plan to get its flying license renewed. The Directorate General of Civil Aviation (DGCA) suspended airlines operating license on October 20 and asked to submit a concrete and viable revival plan ensuring safe, reliable, efficient and sustainable operations. As per the DGCA regulations Kingfisher can renew its license within two years.

Jet Airways (I) Share Price

34.04 0.00 (0.00%)
07-Nov-2024 00:00 View Price Chart
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