Jet-Eithad deal not happening anytime soon; may have to wait till August

11 Apr 2013

Jet Airways’ stake sale to Etihad Airways could be deferred at least till August, as the Abu Dhabi carrier seeks assurances following setbacks for several Gulf investors in India. Etihad has been in talks with Jet Airways to buy around 24 percent equity stake valued at about $330 million (Rs 1750 crore) after foreign investment rules into aviation were relaxed and foreign carriers were allowed to pick upto 49 percent in Indian airline firm.

Etihad is looking to sign a Bilateral Investment Protection Agreement (BIPA), keeping in mind,  some UAE entities, like Etisalat and Emaar, were treated in India. Etisalat was forced to shut shop in India after the 2G scam led the Supreme Court to revoke licenses of cellular firms in February 2012 citing problems in the spectrum sale process of 2008.

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