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Saturday, Aug 24, 2019

Abu Dhabi’s Etihad won’t express interest in reinvesting in Jet Airways

Etihad acquired a 24% stake in Jet Airways in 2013, at a time when the Indian airline needed significant financial support, but since then the Abu Dhabi-based airline has been seeking “advanced solutions” to help resolve issues facing Jet.

world Updated: Aug 12, 2019 17:16 IST
Reuters
Reuters
Dubai
Jet has invited prospective bidders to express interest and last week extended the deadline to Aug. 10.
Jet has invited prospective bidders to express interest and last week extended the deadline to Aug. 10.(Getty images)
         

Abu Dhabi’s Etihad Airways said on Monday it will not express interest in reinvesting in India’s bankrupt Jet Airways because of unresolved issues concerning the Indian airline’s liabilities.

Jet has invited prospective bidders to express interest and last week extended the deadline to Aug. 10.

Etihad acquired a 24% stake in Jet in 2013, at a time when the Indian airline needed significant financial support, but since then the Abu Dhabi-based airline has been seeking “advanced solutions” to help resolve issues facing Jet, it said.

“Etihad remained engaged in the process, but despite the endeavours of everyone involved there remained very significant issues relating to Jet’s previous liabilities,” it said.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

First Published: Aug 12, 2019 17:16 IST

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