Jet’s liabilities prevented Etihad from lodging EoI

Mumbai: Etihad Airways PJSC, which owns a 24% stake in Jet Airways (India) Ltd, on Monday said it declined to lodge an expression of interest (EoI) for its grounded partner due to unresolved issues concerning the Mumbai-based airline’s liabilities.

The Gulf airline major had, in May, submitted a non-binding conditional expression of interest (EoI) for Jet Airways for picking up minority shareholding. However, among its conditions, Etihad wanted a commitment from banks on additional loans. The company had also sought an exemption from an open offer that could have been triggered by a change in ownership following its investment.

“Etihad remained engaged in the process, but despite the endeavours of everyone involved there remained very significant issues relating to Jet’s previous liabilities,” Etihad Airways said in a statement.