Etihad Airways acquires 24 percent stake in India's Jet Airways

  • Etihad Airways has acquired a 24 percent stake in India's budget carrier, Jet Airways, for $379 million.

    Wednesday’s deal is the first foreign investment in an Indian airline since ownership restrictions in the sector were relaxed last year.

    UAE-based Etihad Airways paid a premium of 32 percent on Jet's closing share price on Tuesday.

    Etihad, which was set up a decade ago, has been keen in recent years to forge alliances by buying stakes in airlines around the world.

    Last year, it acquired 4 percent of Virgin Australia.

    Locate the domestic airlines and their headquarters, visit India Domestic Flights Map

    Tagged as: Etihad Airways, Jet Airways, India Jet Airways, Etihad