Etihad in Discussions with Jet Airways for Potential Investment, Says Ajit Singh
January 31, 2013 6:58 PM EST
Abu Dhabi's Etihad Airways is in talks with Jet Airways(JET.NS) 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.