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Hope for Jet Airways as Etihad submits binding bid

NEW DELHI: Jet Airways may fly again, with its Abu Dhabi-based equity spouse Etihad announcing it need to re-invent in the airline. However, the UAE main stated it's going to want Indian investors for the task of making Jet fly again.

In a observation, Etihad stated it has on Friday "confirmed its interest to re-invest in a minority stake in Jet Airways, subject to conditions. India is one of the fastest-growing air transport markets in the world, and a significant economic partner of the UAE."

"Etihad has been working consistently with key stakeholders in India over the past 15 months to help find a solution which would ensure Jet’s return as a viable and competitive Indian airline, and continues to do so. Etihad re-emphasises that it cannot be expected to be the sole investor, and that, amongst other requirements, additional suitable investors would need to provide the majority of Jet Airways’ required recapitalisation," the airline stated.

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