Tie-Up Between Jet - Etihad Airways
Tie-Up Between Jet - Etihad Airways
Tie-Up Between Jet - Etihad Airways
Presented byJyoti Patawari Kimberly Rodrigues Rahul Runout Swati Sharma Shaifali Pal Sahil Kakwani Raghav Maheshwari
INTRODUCTION
Jet Airways Second largest airline in India.
Based in Mumbai. 51% owned by Naresh Goyal (founder and chairman).
Etihad Airways Second largest air carrier of UAE. Etihad means union. One of worlds leading airlines.
pocketed Etihad.
JetLite: On 12 April 2007 Jet Airways bought Air Sahara $340 million. It was renamed JetLite. Jetkonnect: Low-cost brand of Jet Airways, launched on May 8, 2009.
international destinations.
Current market standing:
$379 million.
which the promise of one party is in consideration supporting the promise of the other party.
Etihad to pick up 24% in Jet Airways for $379 million. Signed by the two airlines in April and modified in May. Key changes ensured that Ethiad does not have unilateral
person nominated each by Jet and Etihad and three other board members will be chosen through consensus.
Etihad is regarded as an ordinary public
shareholder.
share.
Allotment to be done through preferential allotment.
- 11,000 weekly seats in 2013. - 12,800 weekly seats till 2014 winter. - 12,870 weekly seats till 2015 winter.
Change of gauge facility made available to both
countries.
OPPOSITION
Rechecking of the deal by: Securities and Exchange Board of India (S.E.B.I.) Foreign Investment Promotion Board (F.I.P.B.) Department opposing Agreement C.B.I. enquiry demanded