Etihad Airways

Jet-Etihad alliance positive for industry, says Ajit Singh

Ajit-SinghNew Delhi, Oct 4 : Terming the Jet-Etihad deal as a positive for the struggling Indian civil aviation sector, Civil Aviation Minister Ajit Singh Friday said the alliance will provide passengers multiple options and open possibilities of India becoming a travel hub.

"This alliance between Jet-Etihad is positive for the industry. It will ultimately benefit the passengers and grow the sector further," Singh told IANS.

Fuel hedging strategy nets award for Etihad Airways

Fuel hedging strategy nets award for Etihad AirwaysAbu Dhabi, Oct 2 - Etihad Airways, the national airline of the United Arab Emirates (UAE), has been named Corporate Risk Manager of the Year at the Energy Risk Awards-Asia in recognition of its highly-effective fuel hedging strategy.

The airline has built up its fuel hedging programme over the last six years as a key tool to manage jet fuel price risk, allowing its management to plan effectively.

Last year, Etihad Airways managed a fuel hedging portfolio of around 23.8 million barrels, up from only 6.5 million barrels in 2007 when the programme began.

Etihad Airways to expand India operations

Etihad-AirwaysAbu Dhabi, Sep 19 : Etihad Airways, the national carrier of the United Arab Emirates (UAE) will greatly increase travel options to and from India with more flights and wide-bodied jets by the end of this year, subject to regulatory approval.

From Nov 1 this year, Etihad plans to more than triple the number of seats it now offers on the prime Abu Dhabi-Mumbai and Abu Dhabi-New Delhi routes, the airline said in a statement Thursday.

Jet shares jump as Etihad extends deadline

Jet shares jump as Etihad extends deadlineJet Airways' shares gained nearly 6 per cent to Rs 309 apiece after the publication of reports that Etihad Airways has extended a deadline to acquire a 24 per cent stake in the Indian carrier.

Abu Dhabi-based Etihad Airways extended the deadline for gaining regulatory approval for the proposed acquisition deal to September 30. The previously-fixed deadline ended on August 31.

A report published by Reuters also said that Etihad expected its proposed deal to be cleared by Indian civil aviation regulators very soon.

Jet-Etihad deal gets investment board approval

Jet-Etihad-Airways-LogoNew Delhi, July 29 : The Foreign Investment Promotion Board (FIPB) Monday approved the proposed 24 percent stake-sale in Jet Airways to Abu Dhabi-based Etihad Airways, with certain conditions.

"The (deal) has been cleared by the FIPB with minor changes to the language. All issues raised by civil aviation ministry have been resolved. Now the deal is expected to go to the Cabinet Committee on Economic Affairs (CCEA), but that will happen when a cabinet note is circulated by the finance ministry," Civil Aviation Minister Ajit Singh told reporters after the FIPB meeting.

FIPB reconsidering Jet-Etihad deal

FIPB reconsidering Jet-Etihad dealThe government may announce its decision on the troubled Jet-Etihad deal anytime soon as the Foreign Investment Promotion Board (FIPB) is once again mulling the deal.

The FIPB is holding a crucial meeting to consider Abu Dhabi-based Etihad's proposal to acquire 24 per cent stake in Jet Airways for around Rs 2,058 crore.

Sources said the FIPB is expected to give a green signal to the deal as the two carriers have addressed all the doubts raised by the regulators.

Etihad agrees to have fewer directors on Jet Airways board

Etihad agrees to have fewer directors on Jet Airways boardEtihad Airways, which has wants to acquire 24 per cent stake in Jet Airways for Rs 2,058 crore, has reportedly agreed to have fewer directors on Jet Airways' board.

Sources familiar with developments at the two carriers revealed that Etihad has agreed to have two directors, instead of previously planned three, on the 14-member board of Jet Airways.

Jet's slots sale to Etihad no loss to exchequer: Government

Jet-Ethiad-DealNew Delhi, July 22 : The civil aviation ministry Monday spiked allegations that the government incurred losses on account of the sale of Jet Airway's flying slots at London's Heathrow Airport to Abu Dhabi-based Ethihad Airways, terming it as a private matter.

"The slots are permissions to use airport infrastructure which is given by the airport to the airlines. In case of Heathrow Airport, after two years (of allotment) the airline is entitled to sale or lease (the slot)," the ministry said in a statement.

FIPB and SEBI will have the final say in Jet-Etihad deal: Ajit Singh

FIPB and SEBI will have the final say in Jet-Etihad deal: Ajit Singh The Foreign Investment Promotion Board (FIPB) and capital market regulator Securities & Exchange Board of India (SEBI) will have the final say in the Jet-Etihad deal, Civil Aviation Minister Ajit Singh said on Tuesday.

Jet Airways has sold 24 per cent stake to Abu Dhabi-based Etihad Airways for Rs 2,058 crore, subject to regulatory approvals.

Last month, the FIPB postpone its decision on the deal, saying it needed more clarity on ownership structure of Jet Airways after the implementation of the deal.

Ajit Singh defends Jet-Etihad deal

Jet-Etihad-DealNew Delhi, July 2 : Civil Aviation Minister Ajit Singh Tuesday defended the nearly Rs. 2,000 crore deal between Jet Airways and Abu Dhabi-based carrier Etihad, saying the investment is important for India and opposition to the pact is politically motivated.

"Those opposing the deal are long on politics and short on facts," Ajit Singh told reporters when asked about the widespread opposition to the deal.

"It is such an important deal, the first big deal in civil aviation ministry. In terms of FDI, it is bigger than any other deal this year. There are so many dimensions to it," Ajit Singh said.

Government defers decision on Jet-Etihad deal

Jet-Etihad-DealNew Delhi, June 14 : The government Friday deferred a decision on approving the proposed stake-sale of 24 percent in Jet Airways to Abu Dhabi-based Etihad Airways.

The decision to defer approval for the deal by the Foreign Investment Promotion Board (FIPB) was confirmed by Economic Affairs Secretary Arvind Mayaram.

Jet Airway's shareholders approve Etihad deal

Jet-AirwaysMumbai, May 24 : Jet Airways Friday said its shareholders have approved the company's plans to offload 24 percent stake to Abu Dhabi-based Etihad Airways for around $379 million (Rs. 2,058 crore).

According to the company, the deal was ratified at an extraordinary meeting of Jet's shareholders held here. However, the adoption of a new set of rules relating to 'articles of association' was deferred and will be taken up at a subsequent meeting.

Jet to sell 2.73 crore shares to Etihad

Jet-Airways-EtihadMumbai, April 24 : Airline major Jet Airways said Wednesday it would seek shareholders' approval through an extraordinary general meeting for issuing the company's equity at Rs. 10 per share to the Abu Dhabi-based Etihad Airways.

"The board of directors has approved, subject to compliance with applicable laws and regulations, the issuance, by way of a preferential allotment... of 27,263,372 (2.73 crore) equity shares of the face value of Rs. 10 to Etihad Airways at a price of not less than Rs. 754.73

Jet shares jump on reports about Etihad-Jet stake deal

Jet shares jump on reports about Etihad-Jet stake dealStock in Jet Airways gained more than 10 per cent to Rs 555.85 a share on the National Stock Exchange (NSE), and 9.93 per cent to Rs 554.10 a share on the Bombay Stock Exchange (BSE) on Friday, on the back of reports that Etihad Airways was in the final stage of buying a stake in the Indian carrier.

A news channel reported that Abu Dhabi-based Etihad Airways might buy a 10 per cent to 12 per cent stake in Jet Airways directly from promoters. The channel added that Etihad might pay up to Rs 750 per share for the stake.

Jet Airways stocks rise on report of Etihad buying stake

Jet-AirwaysMumbai, March 8 : Jet Airways shares rose by around 10 percent in Friday's trade at the Bombay Stock Exchange (BSE) on the back of reports that the Abu Dhabi-based Etihad Airways was in the final stages of investing in the company.

A report by business TV channel CNBC TV-18 said the Middle East-based passenger carrier may directly buy 10-12 percent from the promoters of Jet Airways and may buy a similar stake through preferential shares.

Etihad Airways to revise deal to acquire stake in Jet

Etihad Airways to revise deal to acquire stake in JetUAE's Etihad Airways has indicated that it will revise a deal to acquire a stake in the leading Indian airline, Jet Airways.

Etihad Chairman Sheikh Hamed bin Zayed al-Nahayan said that the airline is looking to needed to revise the terms and it is too soon to determine the timeframe for the finalising of the deal between the two Asian airlines. Experts say that Etihad might be looking for ways to simplify the complex shareholding pattern of Jet and to have a greater say at the board.

Etihad Airways reports 200% rise in net profit in 2012

Etihad Airways reports 200% rise in net profit in 2012UAE's Etihad Airways has said that its net profits have increased by an impressive 200 per cent during the entire previous year.

The Abu Dhabi based carrier said that its revenues increased 17 per cent during 2012, the company in a statement. The company's revenues increased 17 per cent to $4.8 billion in 2012 compared to $4.1 billion recorded in the previous year.

Jet-Etihad deal might be finalised tomorrow, reports

Jet-Etihad deal might be finalised tomorrow, reportsAccording to several reports in the media, the much anticipated alliance deal between Jet Airways and Etihad might be finalised as soon as tomorrow.

There are indications that the board of directors of Jet Airways will meet tomorrow to finalise the deal to partner with the Middle East airlines. Civil Aviation Minister Ajit Singh confirmed reports on Thursday saying that Etihad Airways is holding discussions with Jet Airways for a potential investment in the Indian aviation company.

Jet and Etihad delegation meet Anand Sharma

Anand-SharmaNew Delhi, Jan 31 : A delegation of Jet Airways and Etihad Airlines of UAE met Union Commerce and Industry Minister Anand Sharma here today.

The delegation, which included Jet Airways Chairman Naresh Goyal and Etihad Airways President and CEO James Hogan, briefed Sharma about their plans in India in the wake of liberalization of FDI regime in the aviation sector.

Sharma on his part said ''we have put in place an enabling policy and any investment under the policy is welcome''.

Jet Airways confirms stake sale talks Etihad

Jet Airways confirms stake sale talks EtihadJet Airways on Thursday confirmed that it is in talks with Gulf carrier Etihad Airways for a stake dilution.

Reports about Etihad's interest in Indian carriers Jet Airways and Kingfisher Airlines have been coming for a long time. But, none of the parties involved had confirmed reports until Jet Airways' yesterday's confirmation.

In a message to stock exchanges, Jet Airways said, "Jet and Etihad are in a discussion regarding a potential investment by the latter in the former."




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