Shares in Jet Airways fell as much as 6.4 per cent on Thursday morning before making a partial recovery, after the group reported its worst quarterly figures on record, according to Thomson Reuters.
The group posted a net loss of Rs8.9bn ($145m) in the quarter ended in September, almost nine times its loss a year earlier, just as Etihad Airways prepares to take a 24 per cent stake in the airline. Continue reading »
The proposed investment by Abu Dhabi’s state carrier, Etihad Airways, into the Indian airline, Jet Airways, has faced several roadblocks.
First, the problem was regulatory approvals. And now there are political rumblings. India’s not going to woo many foreign partners if this is how it treats wealthy investors. Continue reading »
Shares in Jet Airways dipped more than 12 per cent on Monday morning on Friday’s decision by India’s Foreign Investment Promotion Board (FIPB) to defer approving Etihad Airways’ plan to buy a stake in the Indian airline.
They recovered later in the day to close up 1.3 per cent to Rs476.5 afte investors realised the delay was just that – a temporary glitch – and wouldn’t stop the deal going ahead. No problem, then? Continue reading »
After months in the pipeline, a deal has finally been announced between India’s Jet Airways and Etihad.
The UAE’s national carrier will pay Rs754.74 per share for a 24 per cent stake in Jet, valuing the deal at Rs20.6bn ($380m). It’s good news for both parties in the deal. But it’s very bad news for Jet’s main competitor – the state-owned Air India. Continue reading »
Abu Dhabi’s Etihad Airways appears to have developed a taste for Indian airlines. Just last month, there were rumours that the state-owned airline was considering investing in Vijay Mallya’s grounded airline, Kingfisher.
Then on Thursday, Jet Airways announced on the Bombay Stock Exchange that it is in discussions with Etihad regarding a possible investment in the Indian carrier. Continue reading »
It turns out cheap is, indeed, cheerful where Indian airlines are concerned.
According to a new global ranking, low-cost carriers IndiGo and SpiceJet expanded capacity by 34.6 per cent and 16 per cent respectively in 2012, while standard carriers Air India and Jet Airways trimmed back operations. The contrast is stark – and that’s even before the dormant Kingfisher enters the picture. Continue reading »
Shares in Jet Airways and SpiceJet soared on Monday by nearly a fifth after an Indian government official confirmed the worst-kept secret in Mumbai – the two carriers are in talks with potential foreign investors.
Jet is discussing selling a stake to Etihad Airways and SpiceJet is having similar discussions with Malaysia’s AirAsia, said the official. These are the first deal plans to be made public since New Delhi liberalised investment by foreign carriers in September. Continue reading »
Shares in Jet Airways, the Indian airline, soared by up to 15 per cent on Friday amid speculation that the company is about to announce a tie-up with a foreign carrier.
Although Jet denied that it had any such plan, its comment had little impact on the Mumbai stock market where investors seem convinced that foreign carriers are about to capitalise on recent government moves to liberalise foreign investment in air travel. Continue reading »