Etihad Airways needs to revise Jet deal: Chairman, Sheikh Hamed bin Zayed al-Nahayan

ABU DHABI: Etihad Airways needs to revise its deal to buy a stake in India's Jet AirwaysBSE -5.47 % and it is too soon to say when a final agreement will be struck, the Abu Dhabi airline's chairman told Reuters on Sunday.
Sheikh Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet with Indian Trade Minister Anand Sharma to discuss the matter.
When asked if a Jet deal would be signed by March or April, Sheikh Hamed said: "I don't know....we need to revise it."
The terms of the possible deal have not been disclosed, but a government source said earlier this month Etihad was in talks to pick up a 24-percent stake in Jet for up to $330 million.
http://economictimes.indiatimes.com/news/news-by-industry/transportation/airlines-/-aviation/etihad-airways-needs-to-revise-jet-deal-chairman-sheikh-hamed-bin-zayed-al-nahayan/articleshow/18541829.cms

Need to revise deal with Jet, says Etihad chief

ABU DHABI: Etihad Airways needs to revise its deal to buy a stake in Jet Airways and it is too soon to say when a final agreement will be struck, the Abu Dhabi airline's chairman said on Sunday.
Sheikh Hamed bin Zayed al-Nahayan , speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet commerce minister Anand Sharma to discuss the deal. Asked if a Jet deal would be signed by March or April, Sheikh Hamed said: "I don't know ... we need to revise it." The terms of the possible deal have not been disclosed , but a government source said earlier this month Etihad was in talks to pick up a 24 percent stake in Jet for up to $330 million. Asked if a Jet deal would be finalized soon, Sheikh Hamed said: "It's too early to decide." Sheikh Hamed, who is also managing director of sovereign wealth fund Abu Dhabi Investment Authority, did not specify why the deal needs to be revised. "We need to talk with the Indians about other issues ... including this," he said.
Unlisted Etihad's chief executive said this month the Abu Dhabi carrier was conducting due diligence on making an investment and would present the findings to its board. The Jet Airways deal would be the first foreign investment in India's aviation industry since the government relaxed ownership rules last September
http://timesofindia.indiatimes.com/business/india-business/Need-to-revise-deal-with-Jet-says-Etihad-chief/articleshow/18551592.cms

KFA demise lets AI, Jet stretch business class fares

Taking advantage of the closure of Kingfisher Airlines’ operations, both Air India (AI) and Jet Airways are making money from business class passengers.
 Government-owned and financially ailing AI has been dropping its economy class fares to the level of low-cost carriers (LCCs). Not so in business class, where it is taking a lead in raising fares steeply to increase yields, especially with an assured market from central and state government officers of or above the joint secretary rank, who enjoy the privilege of flying in this category. 
 Based on average ticket value of all business class bookings on travel portal yatra.com, the airline raised fares on business class by 38 per cent last month to Rs 29,000, compared from Rs 21,000 last year in the same month.
 Jet, the only airline with business class seats apart from AI, raised fares 20 per cent, from Rs 24,000 to Rs 29,000 in the same period. 
 Portal makemytrip.com says business class fares went up 25 per cent in the third quarter of 2012-13 (October-December 2012) over the second quarter (July-September).
 Jet offers a one-way ticket on the Delhi-Mumbai route for Rs 26,913 to Rs 43,866 on business class.
 AI fares could range from Rs 26,913 to Rs 37,440 on business and  first class.
 Says Sharat Dhall, chief operating officer of yatra.com: “The steep hike in business class fares happened because the number of business class seats reduced significantly when Kingfisher stopped operations. Also, because most of the tickets are bought by corporates and not by individuals. Demand is stable even in the face of fare increases."
 According to makemytrip, the business class constitutes about five per cent of all the seats on offer in the domestic market. Analysts says this is half of what it was when Kingfisher was in action. Also, both Jet and AI have shifted more seats to the economy class as they struggle to challenge the LCCs. So, the number of business class seats is significantly down.
 AI executives say this is one way to improve their yields per passenger. Fares in business class are currently three to six times higher than an economy class ticket.
 With between eight to 24 business and first class seats on each flight, this means good
http://www.business-standard.com/article/companies/kfa-demise-lets-ai-jet-stretch-business-class-fares-113021700134_1.html

Etihad needs to revise Jet deal: Chairman

Etihad Airways needs to revise its deal to buy a stake in Jet Airways and it is too soon to say when a final agreement will be struck, the Abu Dhabi airline's chairman said on Sunday.
 Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet Industry Minister Anand Sharma to discuss the deal.
 Asked if a Jet deal would be signed by March or April, Hamed said: "I don't know... we need to revise it."
  The terms of the possible deal have not been disclosed, but a government source said earlier this month Etihad was in talks to pick up a 24 per cent stake in Jet for up to $330 million (Rs 1,792 crore).
 Asked if a Jet deal would be finalised soon, Hamed said: "It's too early to decide."
 Hamed, also managing director of the sovereign wealth fund, Abu Dhabi Investment Authority, did not specify why the deal needs to be revised.
 "We need to talk with the Indians about other issues... including this," he said.
 Unlisted Etihad's chief executive said this month the Abu Dhabi carrier was conducting due diligence on making an investment and would present the findings to its board.
 The Jet Airways deal would be the first foreign investment in India's aviation industry since the government relaxed ownership rules last September.
 This allows foreign airlines to buy up to 49 per cent in the country's domestic carriers, many of which are facing stiff competition and high operating costs.
 Hamed also dismissed talk of the carrier's interest in grounded Kingfisher Airlines as "rumours".
 Kingfisher said in December it was in talks with several investors, including Etihad, for a stake sale but those hopes have faded as the indebted airline remains grounded.
http://www.business-standard.com/article/companies/etihad-needs-to-revise-jet-deal-chairman-113021700577_1.html

Etihad needs to revise Jet Airways deal - chairman

Etihad Airways needs to revise its deal to buy a stake in India's Jet Airways (JET.NS) and it is too soon to say when a final agreement will be struck, the Abu Dhabi airline's chairman told Reuters on Sunday.
 Sheikh Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet Indian Trade Minister Anand Sharma to discuss the deal.
Asked if a Jet deal would be signed by March or April, Sheikh Hamed said: "I don't know ... we need to revise it."
The terms of the possible deal have not been disclosed, but a government source said earlier this month Etihad was in talks to pick up a 24 percent stake in Jet for up to $330 million.
Asked if a Jet deal would be finalised soon, Sheikh Hamed said: "It's too early to decide."
Sheikh Hamed, who is also managing director of sovereign wealth fund Abu Dhabi Investment Authority, did not specify why the deal needs to be revised.
"We need to talk with the Indians about other issues ... including this," he said.
Unlisted Etihad's chief executive said this month the Abu Dhabi carrier was conducting due diligence on making an investment and would present the findings to its board.
The Jet Airways deal would be the first foreign investment in India's aviation industry since the government relaxed ownership rules last September.
This allows foreign airlines to buy up to 49 percent in the country's domestic carriers, many of which are facing stiff competition and high operating costs.Sheikh Hamed also dismissed talk of the carrier's interest in India's grounded Kingfisher Airlines (KING.NS) as "rumours".Kingfisher said in December it was in talks with several investors, including Etihad, for a stake sale but those hopes have faded as the indebted airline remains grounded. (Writing by Amran Abocar; Editing by Paul Tait)
http://in.reuters.com/article/2013/02/17/etihad-jet-airways-deal-idINDEE91G02E20130217

Jet Airways deal needs to be revised, says Etihad chairman

Etihad Airways needs to revise its deal to buy a stake in Jet Airways and it is too soon to say when a final agreement will be struck, the Abu Dhabi airline’s chairman said on Sunday.
 Sheikh Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet Indian trade minister Anand Sharma to discuss the deal.Asked if a Jet deal would be signed by March or April, Sheikh Hamed said: “I don’t know ... we need to revise it.”
 The terms of the possible deal have not been disclosed, but a government source said earlier this month Etihad was in talks to pick up a 24% stake in Jet for up to $330 million. Asked if a Jet deal would be finalised soon, Sheikh Hamed said: “It’s too early to decide.”
 Sheikh Hamed, who is also the managing director of the sovereign wealth fund Abu Dhabi Investment Authority, did not specify why the deal needs to be revised. “We need to talk with the Indians about other issues ... including this,” he said.
 He also dismissed talk of the carrier’s interest in grounded Kingfisher Airlines as “rumours”.
http://www.financialexpress.com/news/jet-airways-deal-needs-to-be-revised-says-etihad-chairman/1075655

Flyers to pay user charges at Kolkata terminal from March 1

Flyers using the Kolkata airport will not have to pay user development fee until March 1. The regional airport authorities have postponed the levy for a fortnight. It was to have come into effect from Saturday.
The Airports Economic Regulatory Authority (AERA) had announced last month the additional levy – for both outbound and inbound passengers — of Rs 400 for domestic flyers and Rs 1,000 for those going abroad.
“We have decided to implement the UDF announced by the AERA from March 1 after the airlines shift to the new terminal. The airlines have also requested to postpone the date,” B. P. Sharma, Regional Director, Airports Authority of India, said.
According to a senior official at the Kolkata airport, the decision was taken late on Friday after some of the airlines had already changed their fare structures .
Some of the carriers had earlier opposed the decision to levy UDF before the modernised terminal came into use.
While the integrated facility was inaugurated on January 20, the airlines had planned to shift their operations to the new facility by early February, the official said.
The AAI has, however, yet to confirm the installation of some basic amenities as promised, including a higher bandwidth at check-in counters and transit facility for international flyers.
http://www.thehindubusinessline.com/industry-and-economy/logistics/flyers-to-pay-user-charges-at-kolkata-terminal-from-march-1/article4422612.ece?ref=wl_industry-and-economy
 

Feeder airport project runs into rough weather

The government proposal to construct a feeder airport at Panamaram in Wayanad district has run into stiff opposition from the Kerala State Biodiversity Board. The board is preparing to write to the government, pointing out the ecological consequences of the project. A preliminary investigation by the board had revealed that the site identified for the airstrip was ecologically sensitive and hence unsuitable for the project. In a report submitted to the National Biodiversity Authority (NBA), KSBB member secretary K.P. Laladhas said the site harboured a remarkable wetland and was a natural breeding ground for several bird species. It was also home to tribal people.
“Since the project area is ecologically fragile, no land modification is feasible. The Panamaram wetland and the tribal population have to be considered in the conservation perspective,” he said. The NBA had called for a report from the board on the basis of a representation from the Mechery Agricultural Land Protection Forum.
Oommen V. Oommen, Chairman, KSBB, told The Hindu that the board would submit its observations to the government shortly. “We are not against the idea of a feeder airport for Wayanad but an ecologically fragile area such as Panamaram cannot be considered for the project.”
The board report said 169.28 acres of the 337.64 acres identified for the project was under paddy cultivation, with the rest under cash crops. It observed that the area was home to 308 tribal people who played a key role in agrobiodiversity conservation.
The board has suggested a detailed Environment Impact Assessment study by an accredited agency before taking a final decision on the project. The proposed feeder airport seeks to link Wayanad with other airports in Kerala and neighbouring States. The Kerala State Industrial Development Corporation (KSIDC) has invited expressions of interest for consultancy after a feasibility study by the Airports Authority of India identified Panamaram as the most suitable site.
 http://www.thehindu.com/todays-paper/tp-national/tp-kerala/feeder-airport-project-runs-into-rough-weather/article4424112.ece