Etihad-Jet tie gets final approval | GulfNews.com:
"Etihad Airways’ long-awaited tie-up with Indian full-service airline Jet Airways has received final approval by Indian authorities. Etihad is now set to take its 24 per cent equity stake in the Indian airline and subsequently expand its network.
In a joint press release, the two airlines announced on Wednesday they had received “all requisite Indian regulatory approvals”.
Due to stringent foreign investment laws in India, the deal had been subject to Indian government cabinet and other regulatory approvals.
Under the new agreement, which sees Etihad Airways take a 24 per cent equity stake in Jet Airways, Etihad Airways President & Chief Executive Officer James Hogan, and its Chief Financial Officer James Rigney have been appointed as additional directors on the Jet Airways board."
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