Etihad declined to invest in Jet Airways again because of ‘unresolved issues’
Etihad Airways balked at reinvesting in grounded carrier Jet Airways due to various ‘unresolved liability issues’ it said.
Etihad purchased a 24% stake in the airline back in 2013.
"Since then, Etihad has consistently and constructively sought and advanced solutions to help resolve Jet’s issues but as a minority shareholder, Etihad has had limited capacity to secure required changes," Etihad said in a statement.
The Abu Dhabi based airline filed an expression of interest earlier this year but only as a minority stakeholder with a controlling partner but no agreement could be reached.
Jet Airways is currently in bankruptcy resolution and its main creditors recently sought new expressions of interest.
It received three proposals but within days two of these have decided to pull out.
Anil Agarwal, billionaire chief of Vedanta Resources Limited had filed an EoI through his family trust, Volcan Investments, but then backed out earlier this week.
Although Etihad will not be investing, it is still has a ‘continued commitment’ to India.
It links Abu Dhabi with 10 destinations in India and ‘is continually increasing the frequency of flights, the size of aircraft, and the quality of the product.’
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025