Business Today
Loading...
Etihad denies reinvesting in Jet Airways

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.

Etihad denies reinvesting in Jet Airways

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

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 August 10.

In 2013 Etihad acquired a 24 per cent stake in Jet, 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 endeavors of everyone involved there remained very significant issues relating to Jet's previous liabilities," it said.

Diplomat bats for more incentives to Japanese cos for expansion in West Bengal

Zomato controversy: Food delivery boys cry foul; to strike from Monday against delivering beef, pork

West Bengal tops list of states in terms of GDP growth rate: Amit Mitra

Get latest news & live updates on the go on your phone with our News App. Download The Business Today news app on your device
More from BIZ WRAP