Dubai: Abu Dhabi's Etihad Airways confirmed it had taken a 24 per cent minority stake in Jet Airways for $379 million. The Gulf carrier said in an emailed statement it would subscribe to 27.3 million new shares at Rs 754.74 per share.
Jet said in a brief statement to the stock exchange earlier on Wednesday that its board had approved the allotment to Etihad. Etihad, which is on an aggressive expansion drive, will also make a $150 million equity investment in Jet's frequent flyer programme and spend $70 million to buy Jet's three pairs of Heathrow slots through the sale and leaseback agreement announced in February.
Jet's majority ownership will remain with Indian nationals and Jet's founder and non-executive chairman Naresh Goyal will hold 51 per cent of the airline after the deal, which is subject to shareholder approval, the statement added.
As part of the deal Jet will establish a hub in Abu Dhabi and expand its reach through Etihad Airways' global network....
more
07:59 PM, Apr 24, 2013
London's Heathrow airport cancelled 130 flights and warned of more delays in service. ...
10:58 AM, Jan 22, 2013
London's Heathrow airport cancelled 10 per cent of flights on Monday because of snow, about half the number cut on Sunday, and said there could be further disruption with more snowfall expected. ...
07:23 AM, Jan 22, 2013
London's Heathrow Airport cancelled a fifth of flights on Sunday and airlines scrapped 40 per cent of flights to Paris's main airports as snow continued to blanket parts of Europe. ...
09:56 AM, Jan 21, 2013
London's Heathrow Airport cancelled a fifth of flights on Sunday and airlines scrapped 40 per cent of flights to Paris's main airports as snow continued to blanket parts of Europe, with more forecast. ...
06:48 AM, Jan 21, 2013
Flights to and from India remain unaffected so far, even as airports across Britain struggle to cope with extreme weather conditions. Britain has been battered by heavy snow and strong winds in the past few days. Flights at Heathrow Airport - Britain's busiest airport - have been cut by 20 per cent after a further two to six centimetres of snow was predicted for on Sunday. ...
07:14 PM, Jan 20, 2013
London: Winter is playing havoc in the United Kingdom, where dozens of flights have been cancelled due to thick fog and ice. Europe's busiest airport, Heathrow, has seen a bulk of cancellations. Visibility has been falling across central, eastern and north-west England. Ferry services too have been cancelled in London. Road and rail travel has also been disrupted, especially in North Yorkshire. Heathrow Airport had around 60 cancellations affecting incoming...
08:10 PM, Dec 12, 2012
London: A man, who is believed to be a stowaway, fell thousands of feet to his death from a Heathrow-bound jet liner on a car parked in a quiet residential street here. A bloodied body of the young man, who crash-landed on the car parked in the street, was found in the Heathrow flight path, police said on Monday. Horrified residents living in west London, just a few miles from...
04:02 PM, Sep 10, 2012
Officials at London's Heathrow airport expected Thursday to be a record day for the number of arrivals. ...
09:43 AM, Jul 27, 2012
London: A top British lawmaker on Monday said he was appalled by the long immigration queues at Heathrow airport that would receive thousands of visitors for the London Olympics starting on July 27. "I was appalled by the length of queues in the immigration hall this morning. It is now two months since the Immigration Minister promised additional resources and better management," Keith Vaz, chairman of the Home Affairs Select...
07:53 PM, Jul 09, 2012
London: An airport operator and lawmakers on Saturday called on the government to urgently address chaos at Britain's borders to prevent disruption for Olympic visitors. Concerns have been raised amid lengthy waits for passengers arriving at immigration desks from flights into the British capital, including complaints from passengers who faced long lines on Friday at Heathrow's Terminal 5. BAA Ltd, which operates Heathrow and Stansted airports in London, said Britain's...
12:44 PM, Apr 29, 2012
London: In the wake of heavy snowfall and severe weather warnings, London's Heathrow Airport cancelled 30 per cent of flights that were scheduled to take off on Sunday. The world's busiest international passenger airport said that up to 10 centimetres of snow were expected to fall which would cause major disruption at the west London airport without reductions to the flight schedule. Heathrow's chief operating officer Normand Boivin said, "We...
12:10 PM, Feb 05, 2012
London: A Pakistan-origin drug smuggler who imported heroin hidden in a consignment of vegetables has been jailed for 11 years in the UK. Ali Amir Shah, 44, was sentenced to 11 years in prison by London's Kingston Crown Court after pleading guilty to conspiracy to import two kilos of heroin with a street value of around 80,000 pounds. Shah was sentenced last week, but his conviction wasn't announced until Tuesday....
10:46 AM, Oct 12, 2011
London: British novelist Tony Parsons is gearing up to tell tales from the terminal, as he assumes the role of writer-in-residence at London's Heathrow Airport. The author and journalist, best known for his novel "Man and Boy," moved into a hotel in the airport Wednesday and will spend a week roaming the terminals in search of inspiration for his first collection of short stories. Describing airports as "places of extreme...
11:04 AM, Aug 04, 2011
London: A pilot has been jailed after he was so drunk at London's Heathrow airport he could not remember where he was flying to when asked by security officials. George La Perle, 49, who flew for Delta Airlines, was found to be four and a half times over the alcohol limit. He told security staff he was flying to New York. But his actual destination was Detroit, the Daily Express...
02:19 PM, Jan 25, 2011
Passengers were stranded at airports as many flights were canceled due to heavy snowfall in Europe. ...
04:45 PM, Dec 21, 2010
Mumbai: Major Indian carriers on Sunday announced the cancellation of their flights to and from London following the closure of London's Heathrow airport due to heavy snow. "Due to persistent bad weather, all flights to and from London Heathrow have been cancelled for Monday. We will resume flight operations Tuesday if the weather is in control," an Air India spokesperson said. Kingfisher Airlines too cancelled all its flights on Sunday....
11:02 PM, Dec 19, 2010
He made lewd comments after a colleague strayed into the scanner. ...
05:19 PM, Mar 24, 2010
Rashid Rauf was one of the top operatives of the al Qaeda. ...
03:31 PM, Nov 22, 2008
It seems trouble won't stop following superstar Amitabh Bachchan. ...
01:09 PM, Sep 26, 2008
