CCI approves Etihad’s proposal to buy 50.1% stake in Jet Airway’s loyalty unit

06 Feb 2014

The Competition Commission of India (CCI) has given an approval to Abu Dhabi-based Etihad Airways proposal for purchase of 50.1% stake in Jet Privilege (JPPL), a customer loyalty programme unit of Jet Airways. 

CCI, while clearing the transaction by majority, stated that the deal was unlikely to have any adverse impact on market competition, as Etihad’s purchase of 24% stake in Naresh Goyal-led Jet Airways has already been approved and the two carriers were already partners in their respective frequent flyer programmes. Under such customer loyalty programmes, airlines generally offer certain benefits to their frequent flyers.

Jet Airways currently operates a fleet of 113 aircraft, which include 10 Boeing 777-300 ER aircraft, 8 Airbus A330-200 aircraft, 4 Airbus A330-300 aircraft, 73 next generations Boeing 737-700/800/900/900 ER aircraft and 15 ATR 72-500 and 3 ATR72-600.

Related Jet Airways (India) Ltd. Links:

Jet Airways (I) Share Price

123.25 -6.45 (-4.97%) Mar 02, 18:59
1 Year Price Chart
Peers
Company Name CMP
Interglobe Aviation 1691.90
Jet Airways (I) 123.25
Hindustan Aeron 1106.55
Spice Jet 83.80
Global Vectra Helico 46.40
View more..
Sensex vs Jet Airways (I)
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback