Monday, April 29, 2013

NEWS | Jet-Etihad pact a win-win deal, says Ajit Singh

Describing the business proposal between Jet and Etihad airlines as a win-win deal, Aviation Minister Ajit Singh said it will be beneficial for flyers.

 Describing the over Rs 2,000 crore business proposal between Jet and Etihad airlines as a win-win deal, Civil Aviation Minister Ajit Singh today said it will be beneficial for flyers.

In the first Foreign Direct Investment ( FDI) deal after India opened up the aviation sector, Jet AirwaysBSE -0.49 % will sell a 24 per cent stake to Etihad Airways in a USD 379 million (Rs 2,058 crore) deal.

"It is a win-win deal, good for the flyers. It provides more competition and more connectivity and better efficiency," Singh told reporters outside Parliament.

SOURCE:http://economictimes.indiatimes.com/news/news-by-industry/transportation/airlines-/-aviation/jet-etihad-pact-a-win-win-deal-says-ajit-singh/articleshow/19725645.cms

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