This combination image shows two file pictures, one taken on March 3, 2012, showing an Indian flight technician cleaning the front windows of a Jet Airways Boeing aircraft during The India Aviation 2010 show at Begumpet Airport in Hyderabad, and one taken on November 3, 2003, showing Emirati officials posing in front of the new carrier 'Etihad' or 'Unity' which was on show in Abu Dhabi in the UAE. Shares of India's Jet Airways surged almost 20 percent on February 27, 2013, after Abu Dhabi-based Etihad paid USD 70 million to the Indian carrier for London landing slots. The move by Ethihad fuelled investor hopes that the Gulf carrier could be close to a long-anticipated deal to purchase a stake in the Indian airline.
Tailwinds Limited, an existing promoter of the company (Jet Airways), will seek an exemption from Sebi for divesting equity shares of the company in the manner approved by Sebi to comply with the minimum 25 per cent public floating requirement prior to the proposed preferential allotment of equity shares to the investor (Etihad Airways).
The value of this equity investment is USD 379 million (about Rs 2,058 crore) and will result in Etihad Airways holding 24 per cent of the enlarged share capital of Jet AirwaysMore quotes »
India's Jet Airways to sell $379M stake to Etihad
needed influx of money and expertise to India's massive but still underdeveloped air travel market, an industry analyst said.Jet Airways said in a statement to the Bombay Stock Exchange that it is selling 27.3 million new shares to Etihad at 754.7 rupees ($13.90) Read more »
Around the web
Goyal buys 29% stake in Jet from promoter entity
Airways chairman Naresh Goyal on Thursday picked up over 29 per cent stake in the private carrier from another promoter entity for about Rs 1,434 crore. The shares were purchased from Tail Winds Ltd, a company incorporated in the Isle of Mann and wholly-owned 1:31 PM from Deccan Herald Read more »
DA: Independent probe into Guptagate needed
Jet Airways Airbus A330-200 chartered by the Gupta family. File photo: Phill Magakoe An independent investigation into the clearance for a private plane to land at Waterkloof Air Force Base is needed, the Democratic Alliance said on Thursday. The final justice, 7:26 AM from Independent Online (South Africa) Read more »
PETA holds protest against Air India
cargo carriers in the world- FedEx, UPS, Cathay Pacific,Korean Air and EVA air all prohibit shipping animals to laboratories. Jet Airways, India's second-largest airline, also recently committed to a ban on transporting animals slated for experimentation, 5:35 AM from OneIndia Read more »
Deal between Jet-Etihad flies into Sebi air pocket
concerns might lead to a reworking of the over Rs 2,000-crore deal to secure regulatory approval. In a recent communication to Jet Airways, the regulator expressed reservations regarding the shareholders' agreement entered into by the two partners that gives from Economic Times Read more »
Jet to seek Sebi exemption to divest promoter holding
(chief executive), James Rigney (chief financial officer) and Harsh Mohan (vice-president, internal audit and risk management). Jet Airways would have four directors on the board; there would be seven independent directors as well. The composition of the board from Sify Read more »