and lease back agreement signed on February 26,” Etihad
said in a statement.
The deal further strengthens the existing commercial
relationship which started in July 2008 and makes provisions for code share
between the two airlines. “Etihad Airways continues to progress discussions
about further investment in Jet Airways,” it said.
Neither carrier
has revealed the contours of the deal nor when it is likely to be concluded.
The Centre for Asia Pacific Aviation (CAPA) feels Etihad will acquire 24 per
cent in Jet Airways for some $330 million.
Jet Airway officials did not respond to phone calls or
text messages.
According to industry analysts, the three London slots
may be used by Jet Airways to launch more flights. Etihad is unlikely to use
these slots for now. Also, with the Government withdrawing all international
slots, including to London, allotted to Kingfisher Airlines, Air India and Jet
could become eligible for these slots as the only Indian carriers operating to
London.
K. G. Vishwanath, Jet’s Senior Vice-President, Commercial
Finance and Investor Relations, had recently said that by the second or the
third quarter of this financial year, the airline will start getting back all
the Boeing 777s leased to Thai Airways.
“We can either give the aircraft on lease to some other
airline and there are discussions which are happening, or even operate them on
our own,” he had said. The aircraft can be used to operate flights to London
and possibly onwards from there.
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