Etihad Airways is in talks with a partner to jointly bid for Jet Airways which has been put up for sale by banks which have taken control of the financially-troubled airline.
Government sources said Etihad has not given up on Jet in which it held 24% stake. After banks acquired 50.1% stake in Jet, shareholding of all existing investors fell by half with Etihad left holding 12% stake.
“Etihad will not bid alone. They are in talks with an investor for jointly bidding for Jet Airways,” said the sources. Aviation rules allow a foreign investor to pick up a maximum of 49% stake in an airline.
