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Etihad Says Jet Deal Deadline Extended Until Aug End

Etihad Says Jet Deal Deadline Extended Until Aug End

The Abu Dhabi carrier is awaiting Indian regulatory approval to acquire a $379 million stake in Jet Airways.

Etihad Airways’ chief executive said on Thursday that a deadline to win regulatory approval for the airline’s planned $379 million stake in India’s Jet Airways has been extended until end of August.

Abu Dhabi-based Etihad agreed in April to buy a 24 per cent stake in Jet but political concerns and scrutiny by Indian market regulators have delayed the deal. A so-called “long-stop” deadline for the deal to win regulatory approvals was initially set for July 31.

“I have every confidence the deal will be concluded,” James Hogan said at the sidelines of an event in Belgrade.

“The deadline (for the deal) has been extended to the end of August,” he added.

India’s foreign investment regulator gave conditional approval on Monday for the deal.


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