Etihad needs to revise Jet Airways deal

Monday, 18 February 2013 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Etihad Airways needs to revise its deal to buy a stake in India’s Jet Airways and it is too soon to say when a final agreement will be struck, the Abu Dhabi Airline’s Chairman told Reuters on Sunday.

Sheikh Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet with Indian Trade Minister Anand Sharma to discuss the matter.

When asked if a Jet deal would be signed by March or April, Sheikh Hamed said, “I don’t know, we need to revise it.”

The terms of the possible deal have not been disclosed, but a government source said earlier this month Etihad was in talks to pick up a 24% stake in Jet for up to US$ 330 million.