Gulf air carrier Etihad, which has topped to acquire 24 per cent stake in Jet Airways said that it would complete the procedures over the deal with the Indian carrier within a week and leave it to its board to take a final view on the matter.
Moreover, as told by President and CEO, James Hogan through a formal acknowledgment that the Abu Dhabi-based airline was interested in investing in Jet after several rounds of talks between the two carriers and that they are taking earnest effort to get it implemented in a weeks time.
In fact, Etihad today reported 200 per cent jump in net profit for 2012 to USD 42 million.
To say more, it's that Etihad is likely to buy 24 per cent equity in Jet Airways valued at about Rs.1, 800 crore and if the deal is carried through, it would be the first investment by a foreign carrier in an Indian airline.
Meanwhile, a senior Jet Airways official said in Mumbai that discussions with Etihad were still going on and nothing has been finalised as yet, even though they feel that a deal would expand Jet’s equity base , which now stands at 8.63 crore shares valued at Rs. 5,370 crore.
(AW:Samrat Biswas)
