The Cabinet Committee on Economic Affairs (CCEA) on Thursday gave the
go-ahead to the Rs 2,058 crore stake sale deal between Jet Airways and
Abu Dhabi-based Etihad Airways
The deal, announced in April this year, should result in wider
international connectivity for Indian flyers, especially those flying
from tier-II cities
The deal, entailing a 24 per cent stake sale by Jet to Etihad, was
cleared by the Foreign Investment Promotion Board (FIPB) in July 2013
The airline will now have to apply to the civil aviation ministry and
the Directorate General of Civil Aviation for approvals. An approval
from the Competition Commission of India, which is reviewing the deal,
is also awaited.
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