Etihad set to to finalise Jet deal

The deal could be finalised between January 25 and the first week of February.
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Etihad Airways CEO James Hogan
Etihad Airways CEO James Hogan

After much speculation, Etihad Airways will finalise a deal to buy a stake in India's Jet Airways between January 25 and the first week of February, CNBC TV18 has reported.

The Abu Dhabi-based carrier could pay up to $330 million for a 24% stake in Jet. The two airlines already have a codesharing agreement.

This will be the first such investment by a foreign carrier in the domestic Indian aviation market since the government allowed 49% foreign ownership in September 2012.

In related news, Etihad will increase capacity on its Dublin flights by 34% each week from July 2.

The carrier will start operating the route with a Boeing 777-300ER on the six EY045 flights out of Abu Dhabi each week. The four remaining EY041 flights will continue to operate on an Airbus A330-200.

James Hogan, Etihad president and CEO, said: "Dublin is one of our most successful routes and this increase in capacity is indicative of the confidence we have that demand, especially in the premium cabin, will continue to grow. Etihad Airways carried more than 215,000 passengers between Abu Dhabi and Dublin in 2012, with the route once again in the airline's top 10 most popular."

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