Etihad Airways in talks to buy Jet Airways

Abu Dhabi-based Etihad Airways is in talks with Indian carrier Jet Airways for the possible buyout of the latter.

Etihad Airways is looking expand its global presence and is competing with its neighbors’ fast expanding global airline Qatar Airways and the Dubai-based Emirates. Etihad has acquired or raised its stake in international airlines such as Virgin Australia, Germany’s Air Berlin, Air Seychelles, Ireland’s Aer Lingus.

Etihad may buy 24% stake in Jet Airways for Rs 1,600 crore.

Month: Current Affairs - December, 2012