Etihad says not feasible to reinvest in Jet; cites unresolved issues concerning liabilities


Gulf carrier Etihad, which holds 24 per cent stake in Jet Airways, on Monday said it has decided not to reinvest in the airline due to unresolved issues concerning liabilities. Jet Airways, which shuttered operations on April 17, is undergoing insolvency proceedings and at least three entities have put in initial bids for the carrier.

In a statement, Etihad said it declined to lodge an Expression of Interest (EoI) to reinvest in Jet Airways because of unresolved issues concerning the airline’s liabilities. The deadline for submission of EoIs was August 10. While noting that it was “neither feasible for nor responsible of Etihad to reinvest in Jet Airways at this time, Etihad asserted that the decision does not affect its commitment to India.

“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,” the statement said. Read More

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