New Delhi: Abu Dhabi carrier Etihad's Rs 2,058-crore stake purchase in Jet Airways has hit a regulatory air pocket, as regulators are seeking more clarity on the deal to ensure overall competition in the aviation market is not affected and interests of public shareholders and consumers are protected.
Separate clarifications have been sought on the deal, which involves a 24 per cent stake purchase in Jet by Etihad and is the first investment by a foreign carrier in an Indian airline, by capital markets regulator Sebi (Securities and Exchange Board of India) and fair trade watchdog CCI (Competition Commission of India).
While the queries raised by the two regulators are different, both of them are concerned about certain contours of the transaction that indicate a larger control of Etihad in Naresh Goyal-led Indian carrier despite the purchase of only 24 per cent stake, sources said....
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01:59 PM, May 23, 2013
Mumbai: The Rs 2,058 crore deal between Jet Airways and Etihad Airways will benefit passengers, as increased competition will bring down air fares, aviation sector experts said on Wednesday. According to Captain Gopinath, the founder of erstwhile Air Deccan, the increased competition will lead to low airfares, besides bringing about improvement in the passenger amenities. Jet promoter Naresh Goyal and Etihad President and CEO James Hogan on Wednesday announced a...
07:35 AM, Apr 25, 2013
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...
07:59 PM, Apr 24, 2013
New Delhi: Passengers from Tier-II cities would no longer have to change planes at a metro, if Jet Airways gets the government nod for its plans to mount code-share flights with Gulf carrier Etihad from 23 Indian cities by 2016. According to the plans submitted to the Civil Aviation Ministry, the Naresh Goyal-owned carrier is understood to have sought to connect to 23 cities with Abu Dhabi in the long...
05:00 PM, Apr 20, 2013
Pakistani construction tycoon Malik Riaz has signed a multi-billion dollar deal with Abu Dhabi group to build the world's tallest building in the country overtaking Dubai's Burj Khalifa. The project is likely to come up on an island some three to four kilometres off the coast of Karachi and into the Arabian sea. ...
10:22 PM, Feb 16, 2013
Etihad Airways is close to taking a stake in Jet Airways, the Abu Dhabi airline said on Monday after reporting a tripling in profits for last year. ...
01:56 AM, Feb 05, 2013
Abu Dhabi's Etihad Airways, close to a tie-up with Jet Airways, expects to complete due diligence on the deal in the next week, the Gulf carrier's chief executive said on Monday. The Jet deal would be the first foreign investment into India's aviation market after the government relaxed ownership rules in September 2012, and allowed foreign carriers to buy up to 49 per cent in domestic carriers. ...
05:55 PM, Feb 04, 2013
Ricardo Santos from Portugal grabbed the lead with an amazing show of short game as he carded seven-under 65. ...
10:48 PM, Jan 23, 2013
Meanwhile, Jamie Donaldson collected his second European Tour title in dramatic fashion. ...
08:53 PM, Jan 20, 2013
With that, the 34-year-old Indian took his total to five-under 211 after two rounds. ...
03:41 PM, Jan 19, 2013
Woods now faces an anxious wait before the two-over-par projected cut of 146 is confirmed. ...
08:16 PM, Jan 18, 2013
German Kaymer, who lifted the spectacular Falcon Trophy here in 2008, 2010 and 2011, carded a one-under 71 in difficult gusty conditions. ...
02:59 PM, Jan 17, 2013
Union New and Renewable Energy Minister Farooq Abdullah is among the leaders and government officials from key renewable energy markets scheduled to attend the sixth World Future Energy Summit (WFES), to be held in Abu Dhabi from January 15-17. WFES is a leading platform for renewable energy innovation and investment and is part of Abu Dhabi Sustainability Week. ...
11:05 AM, Jan 09, 2013
Novak Djokovic retained his title at the World Tennis Championship exhibition tournament in Abu Dhabi on Saturday by rallying past Nicolas Almagro of Spain 6-7 (4), 6-3, 6-4. ...
10:13 AM, Dec 30, 2012
Rafael Nadal says doctors have ordered him to pull out of what was to have been his first comeback tournament. ...
08:22 PM, Dec 25, 2012
The Abu Dhabi tournament starts Dec. 27 and will feature a six-man field that includes Djokovic and Murray. ...
08:38 PM, Dec 11, 2012
An Air India Express Kochi-Abu Dhabi flight was delayed by three hours on Wednesday evening after three toilets were found non functional. All 133 passengers and six crew had boarded the flight when it was found the three toilets were not functioning, AIE sources said. ...
10:35 PM, Nov 28, 2012
London: Formula One drivers have been told to mind their language after world champion Sebastian Vettel and race winner Kimi Raikkonen turned the air blue on the podium at last Sunday's Abu Dhabi Grand Prix. A spokesman for the governing International Automobile Federation (FIA) said on Thursday that a private and 'friendly' letter had been sent to all teams' communications directors about the bad language. The letter reminded them that...
11:30 PM, Nov 08, 2012
Should Sebastian Vettel clinch a third consecutive drivers' championship this season, he may look back on his third-place finish in Abu Dhabi Grand Prix as a key moment in his topsy-turvy season. The race on Sunday was won by 2007 champion Kimi Raikkonen. But it was the 25-year-old German's fearless drive through the field after starting dead last that had fans on the edge of their seats for most of...
01:33 PM, Nov 08, 2012
Thiruvananthapuram: The woman pilot of the Air India flight involved in the hijack alarm case on Wednesday stuck to her stand that she was compelled to act as "a hijack-like situation" prevailed with protests by passengers after the Abu Dhabi-Kochi flight was diverted on October 19. The pilot, Rupali Wagmore, who was questioned for about two hours in Thiruvananthapuram, told the Special Investigation Team that three passengers had allegedly barged...
01:27 PM, Nov 07, 2012
