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Jet Chairman Goyal Says Etihad Has no Plans to Exit Partnership

The Abu Dhabi-based Etihad had in April 2013 invested Rs 2,069 crore in Jet for a 24 percent equity but of late there have been plenty of rumours about both the partners not seeing eye-to-eye and looking for other options.

PTI

Updated:September 11, 2017, 7:35 PM IST
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Jet Chairman Goyal Says Etihad Has no Plans to Exit Partnership
Representative image (Image: Reuters)
Mumbai: Jet Airways Chairman Naresh Goyal on Monday scotched rumours about Gulf carrier Etihad Airways exiting its over three year-old equity partnership and also said he is not looking for another partner.

"We have no plans to sell stake to another investor. Also, our partner Etihad has no intention to exit their investment in Jet Airways," Goyal, the chairman of the country's largest international airline told reporters on the sidelines of the AGM here.

The Abu Dhabi-based Etihad had in April 2013 invested Rs 2,069 crore in Jet for a 24 percent equity but of late there have been plenty of rumours about both the partners not seeing eye-to-eye and looking for other options.

In recent months there have also been reports about Jet courting American carrier Delta after the two entered into a extensive code share agreement. Rumour mills were also active about other Gulf carriers looking at a stake in Jet.

The speculation became active after government liberalised foreign ownership norms for the aviation sector
wherein 100 percent FDI is allowed in the sector provided the foreign investor is not an airline operator and 49 percent if the investor is an overseas airline.

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