Etihad submits bid for India's Jet, eyes minority stake
Etihad Airways has submitted a bid for a stake in India’s Jet Airways. The airline is saddled with roughly USD1.2bn bank debt. Binding offers were due on Friday. Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier said earlier on Friday. However, he added that Etihad “cannot be expected to be the sole investor” and “additional suitable investors would need to provide the majority of Jet Airways’ required recapitalisation.”
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