Not feasible to reinvest in Jet Airways, says Etihad

Etihad Airways, on Monday, said it has declined to submit an expression of interest to acquire the assets of Jet Airways through the insolvency process because of unresolved issues concerning Jet’s liabilities.

The national airline of the United Arab Emirates said that “there remained very significant issues relating to Jet’s previous liabilities.”

Etihad had acquired a 24 per cent stake in Jet in 2013, at a time when Jet needed significant financial support.

“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 airline said in a statement.