Etihad in talks with India's Jet for investment: Ajit Singh

Source : REUTERS
Last Updated: Thu, Jan 31, 2013 06:08 hrs
An Etihad Airways aircraft is seen at Abu Dhabi International Airport

Abu Dhabi's Etihad Airways is in talks with India's Jet Airways for a potential investment in the Indian carrier, India's Civil Aviation Minister Ajit Singh said on Thursday, without giving any details of the possible deal.

"The government's role is to make sure that whatever agreement they come to is within the regulatory framework," he told reporters after a meeting with Jet Chairman Naresh Goyal and Etihad Chief Executive James Hogan.

The deal, if closed, will be the first since India relaxed ownership rules in September last year and allowed foreign investors to buy up to 49 percent in domestic carriers that are battling stiff competition and high operating costs.

More from Sify: