Dubai: Talks are “still in progress” for Etihad Airways’ potential deal to buy equity in India’s Jet Airways, the Abu Dhabi-based carrier’s chief executive James Hogan yesterday.
Pressed about the time frame on the deal’s progress, Hogan said: “There is never a time frame in business, talks are still in progress. When you’re dealing with governments and bi-laterals, we are in the hands of others. What is important is that talks haven’t stopped. They are still in progress.”
Etihad has been in talks with Jet Airways for months now, reportedly eyeing a 24 per cent stake in the Indian carrier, valued at approximately $330 million (Dh1.2 billion). Reuters reported last week that the deal could be delayed until at least August as Etihad is seeking assurances following setbacks for several Gulf investors in India, quoting sources familiar with the talks.
Asked whether Etihad is considering a stake in the Serbian airlines Jat Airways following a codeshare agreement announced on Monday, Hogan stated: “Step one is entering into codeshare and fly between Abu Dhabi and Belgrade everyday. We are in discussions to see if we can have broader co-operation but those discussions have just started.”
Etihad serves 88 passenger and cargo destinations. It currently has 42 codeshare partners, including recently-added Serbian carrier Jat Airways, which expand Etihad Airways’ current network size to a total of 254 destinations worldwide.
