Home / Companies / News / Jet Airways deal likely to give wing to Etihad to take on Emirates

Jet Airways deal likely to give wing to Etihad to take on Emirates

In 2013, Etihad bailed Goyal out when he sank into a financial mess by taking a 24 per cent stake in Jet for $397 million

Premium

Etihad’s aggressive acquisition strategy to build a global network has fumbled, except in India, where it has been able to hold on to Jet

Surajeet Das Gupta New Delhi

4 min read Last Updated : May 10 2019 | 11:20 PM IST

It will be the second coming for Etihad Airways in its attempt to control Jet if the grounded airline is handed over by the banks to the Abu Dhabi-based carrier.

But this time around, the West Asian airline will be in the driver’s seat and does not have to contend with promoter Naresh Goyal with whom it had a tumultuous relationship. Goyal has now been ousted from the board with no role in Jet.

In 2013, Etihad bailed Goyal out when he sank into a financial mess by taking a 24 per cent stake in Jet for $397 million. But Goyal, despite

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in