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Jet, Etihad keen on partnership: Sharma

Last Updated: Monday, February 18, 2013 - 18:47

Abu Dhabi: Etihad and Jet Airways are keen on building a partnership, Commerce and Industry Minister Anand Sharma said Monday, amid reports of the UAE-based carrier seeking to revise a proposed deal with the Indian carrier.

Etihad and Jet have been in talks for quite some time now for a possible deal involving a stake purchase in the Indian carrier, but the Chairman of Abu Dhabi-based carrier yesterday said that the deal is being revised and might take some time to consummate.

There have also been reports that Etihad officials would meet Sharma, who is here for an international conference.

While there was no official word on Sharma's meeting with Etihad officials here, the minister told reporters that he also discussed issues related to aviation sector during his meetings with the government representatives and business leaders of of UAE.

"Aviation sector as such has been discussed and I am given to understand that both the airlines are in negotiations and they are keen to build a partnership," Sharma said.

"Aviation sector, airlines collaboration and also India supporting and participating in the expansion of Abu Dhabi as a civil aviation hub have been discussed," the minister said.

The comments came a day after Etihad Chairman Sheikh Hamed bin Zayed al-Nahayan told Reuters on Sunday that the Abu Dhabi-based carrier needed to revise the terms of a pending deal to buy a stake in Jet Airways and it was too soon to say when a final agreement between the two would be reached.

Shares of Jet Airways Monday tanked by more than seven percent on bourses in Mumbai Monday amid concerns about a possible delay in the deal.

Etihad is said to be looking at a 24 percent equity in Jet Airways.


First Published: Monday, February 18, 2013 - 18:47
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