Etihad denies plans to sell Jet Airways shares
On March 1, 2018, the Center for Aviation (CAPA) published a tweet saying that Etihad Airways was planning to sell its shares of Jet Airways in a growth strategy. Etihad denied the allegations.
CAPA research indicates that Etihad may divest its 24% stake in @jetairways, possibly by Q3 of FY2019. This could lead to a rationalisation of capacity between India and the Gulf, particularly Abu Dhabi. #indianaviation— CAPA India (@capa_india) 1 mars 2018
„The claims made in the CAPA report are false. Jet Airways is a valuable partner of Etihad Airways, and we have no plans to divest,” the UAE carrier commented in a public statement sent to the news agency Press Trust of India.
Jet Airways made no declaration about the report, saying the airline has a policy of „not commenting on speculation“.
It is not the first time that such rumors appear on the market. Jet Airways Chairman Naresh Goyad already had to deny similar speculation that Etihad plans an eventual exit from the company while he was announcing a new partnership with Air France-KLM, in November 2017.
The Gulf airline has invested in Jet Airways in April, 2013. At the time, it acquired a 24% share for approximately $317 million (INR 20.69B). Jet Airways is the second biggest carrier of India and has been so far one of the most profitable investment of Etihad Airways. However, the last financial results of the company showed a slowdown in the profit. Coupled with a decrease in oil price that affect the economy of the whole Gulf region, the report of CAPA did not come as a surprise.
Etihad Airways was recently among the potential buyers of the two European companies Alitalia and Air Berlin (AB1) , but failed to acquire any of them.
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