Abu Dhabi-based carrier, Etihad has extended a deadline to win regulatory approval in the stake purchase deal of Indian private carrier Jet Airways till the end of September from August 31 earlier.
Etihad has proposed to buy a 24% stake in the Naresh Goyal-run Jet Airways carrier for an over $350 million. Added to this, the company has also invested an additional $150 million in Jet’s frequent flyer programme and spent $70 million to buy Jet’s three pairs of Heathrow slots through a sale and leaseback agreement.
Jet Airways, has bagged conditional approval from India’s foreign investment regulator in July, but a clearance from the capital markets regulator and a ministerial investment panel is required for the deal to finalize.
Jet Airways currently operates a fleet of 111 aircraft, which include 10 Boeing 777-300 ER aircraft, 10 Airbus A330-200 aircraft, 4 Airbus A330-300 aircraft, 71 next generation Boeing 737-700/800/900 aircraft and 16 ATR 72-500 and 2 ATR72-600
