Etihad, Jet Airways get deal done

Etihad Airways has concluded a transaction with Jet Airways to purchase the Indian carrier’s three pairs of Heathrow slots for US$70 million. The purchase is part of a sale and lease back agreement signed on Feb. 26. Jet Airways will continue to operate flights to London utilizing these slots. The deal further strengthens the existing commercial relationship, which came into effect in July 2008, making provision for codesharing between the two airlines. As previously advised, Etihad Airways continues to progress discussions about further investment in Jet Airways.