Etihad Airways buys 3 slots of Jet Airways

Etihad Airways has concluded a transaction with Jet Airways to purchase the Indian carrier’s three slots at Heathrow airport in London for USD 70 million. The purchase is part of a sale and lease back agreement signed yesterday. Jet Airways will continue to operate flights to London utilising these slots.

The deal keeps the scope of Etihad Airways investing more in Jet Airways alive. Etihad Airways is in discussions for taking stake in Jet Airways after Government of India allowed 49% FDI in the sector.