Etihad has 'no plans to sell stake in Jet Airways'
ABU DHABI, March 4, 2018
Abu Dhabi-based Etihad Airways has rejected reports about its plans to sell its stake in Jet Airways.
The airline rejected a claim made by aviation think-tank CAPA in this regard. A tweet by Capa had said Etihad "may divest its entire 24 per cent stake in Jet Airways, possibly by Q3 of 2019".
"The claims made in the CAPA report are false. Jet Airways is a valuable partner of Etihad Airways, and we have no plans to divest," an Etihad spokesperson told Press Trust of India (PTI) in an e-mailed statement.
Etihad Airways bought its 24 per cent stake in Jet Airways in 2013 for $379 million and invested another $150 million in the airline’s frequent flyer programme.
In September 2017, Jet Airways Chairman Naresh Goyal had scotched rumours about Etihad exiting the airline.
Etihad Airways bought its 24 per cent stake in Jet Airways in 2013 for $379 million and invested another $150 million in the airline’s frequent flyer programme.
