Etihad receives approval on Jet stake acqusition

(MENAFN) Abu Dhabi-based Etihad Airways has received a conditional approval on Monday from the Indian foreign investment regulator for the acquisition of stake in India Jet Airways, reported Arab News. Etihad has reached a USD379 million worth deal with Jet to buy 24 percent stake in one of the world's fastest growing domestic airlines. The two airlines have reached the agreement in April, and yet it still need approval by the ministerial investment panel and cleared by regulator of capital markets.