Jet Airways seeks FIPB’s approval for selling stake to Etihad

03 May 2013

Jet Airways, country’s private carrier is looking for approval from the Foreign Investment Promotion Board (FIPB), in order to sell 24% stake in the company to Gulf carrier Etihad Airways. It has filed its application to the FIPB late last week. The company had signed a deal with Etihad last month under which the premier Indian carrier agreed to sell 27.26 million shares in a preferential offer to the latter at Rs 754.74 a piece.

Jet Airways currently operates a fleet of 99 aircrafts, 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. 

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