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Canada screams over IT outsourcing to India Automobile sector in slump... Smartphone prices may change Airlines hit by service tax on lease Flipkart India in the red by Rs 280 crore Aircraft lessors to get protection from defaulting airlines Renault revving up small car launch Hyundai Grand i10 awaiting launch Plans to double trade with Latin America Trends point to a hung assembly Lanco to sell Australian acquisition Hunt for new finance secretary on... GMR to raise US $ 250 mn thru QIP Singapore Airlines prefers Airbus TVS bullish on the two wheeler market? Wal-Mart studying FDI norms post split with Bharti LANCO opens negotiations with buyers for Karnataka power plant German envoy Steiner caps a language row Vodafone to buy out minority shareholders How important is Modiís German visit... Kolkata kisses goodbye to Ambi? Infosys not to cut prices Excise duty may halt the war in SUV market While MoTown is on a tailspin, the telecom sector is staging a rally Fox Star Studios to tie-up with Bolly-wood and Kollywood Vodafone slapped with tax notice of Rs 3700 crore Urja Sangam in Delhi Jet-Etihad Rs 2000 plus crore deal to be cleared Carlyle invests in Trehanís Medanta Medical Centre SpiceJet in the news again Capital Notes ONGC to draw down on reserves to meet CAPEX needs TCS, Indiaís biggest block buster Latin America beckons India for investments
 
Jet-Etihad Rs 2000 plus crore deal to be cleared

Air Asia, the Malaysian low cost airline is set to be launched on domestic skies, in collaboration with Tata Airlines, by end 2013. And now, there’s the additional news that Jet-Etihad’s Rs 2058 crore deal will be cleared soon by the Foreign Investment Promotion Board (FIPB). Spice Jet, Indigo, Go Air and Air India – all fighting for survival – will find the going tougher. The Jet-Etihad deal will  give Jet access to Middle Eastern sector and will give Etihad access to the Indian skies. While there appears to be no uncertainty about the clearance, both airlines are tense about last minute hiccups.

The Finance Ministry has written to the Jet management seeking clarification on who will hold how much equity and who will control the new company. There is a fear that if the shakeout in the airline industry continues, Jet might sell off its equity or reduce its equity in favour of Etihad making the latter the majority partner.

 

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