Etihad Airways says Jet deal deadline extended until August end1 min read . Updated: 01 Aug 2013, 04:36 PM IST
CEO James Hogan says still confident deal will be concluded
Belgrade: Etihad Airways’ chief executive said on Thursday that a deadline to win regulatory approval for the airline’s planned $379 million stake in India’s Jet Airways has been extended until end of August.
Abu Dhabi-based Etihad agreed in April to buy a 24% stake in Jet but political concerns and scrutiny by Indian market regulators have delayed the deal. A so-called “long-stop" deadline for the deal to win regulatory approvals was initially set for 31 July.
“I have every confidence the deal will be concluded," James Hogan said at the sidelines of an event in Belgrade.
“The deadline (for the deal) has been extended to the end of August," he added.
India’s foreign investment regulator gave conditional approval on Monday for the deal.