Jet Airways: Etihad next to take over 49% of the carrier
First step towards the acquisition of the majority
Jet Airways would be dealing with its creditors so as to solve the problems related to the debt, also because Etihad Airways seem intent on increasing the shareholding to 49%. According to "CNBC-TV 18" the carrier of Abu Dhabi would have offered 35 million dollars to save from the bankruptcy the Indian airline which is in serious financial difficulties, also because the problem would be more serious than repeatedly feared by the leadership of Jet Airways since without an injection of new funds into the cash box by next week all flight operations would terminate. As soon as the president of the Indian company Naresh Goyal takes a step back, Etihad will also acquire the majority of the shares that will later be resold in order to bring the shares in possession to below 25% established by law, so much so that the carrier Abu Dhabi is probing the territory to look for local buyers. If this attempt is not successful, it is highly probable that the United Arab Emirates carrier will also retreat -as done by Tata- bringing Jet Airways to bankruptcy, not least because it is difficult to imagine a new intervention by the Delhi government.
AVIONEWS - World Aeronautical Press Agency