Report by Asobou Daimai, New Delhi: Indian second largest airline Jet Airways today (April 24) has announced that after months of negotiations its board has approved the sale of a $379 million (24 per cent) stake to UAE’s Etihad Airways making this the first foreign investment in an Indian airline since the Indian government eased restriction in aviation last year.
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| Jet Airways |
Jet Airways said in a statement to Bombay Stock Exchange that it is selling 27.3 million shares to Etihad at 754.7 rupees ($13.90) a share. Starting May 16, Jet Airways will connect Kuwait via Abu Dhabi from Kochi instead of through a direct flight adding the airline will explore similar options such as flying to Najaf in Iraq, Cairo in Egypt, Beirut in Lebanon and Amman in Jordan all via Abu Dhabi.
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