Etihad Airways acquires 24 percent stake in India's Jet Airways
April 25 , 2013
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.
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