Jet expects deal with Etihad in a week - exec

Jet expects deal with Etihad in a week - exec

Last Updated: Thu, Jan 31, 2013 09:16 hrs
A newly acquired Jet Airways Boeing 777-300ER aircraft sits on the tarmac at Mumbai airport

Jet Airways expects to finalise a stake sale deal with Abu Dhabi's Etihad Airways "in a week or so", an executive at the carrier, who declined to be named, said on Thursday.

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

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: