(MENAFN- Khaleej Times) Etihad Airways and Jet Airways (India) Limited moved closer to an investment deal that will make the Gulf carrier the first foreign operator to buy into a local airline after ownership rules were eased in September.
"The discussions were very good," Etihad chief executive officer James Hogan told reporters in New Delhi after meeting India's Aviation Minister Ajit Singh along with Jet chairman Naresh Goyal.
A stake sale to Etihad may conclude within a week, a Jet official said, asking not to be identified citing company policy.
The executives later told trade minister Anand Sharma that the airlines will soon seek government approval for the deal, a ministry official said, asking not to be identified as the talks were private.
Etihad's stake purchase comes as airlines in Asia's third-largest economy seek global equity alliances to raise funds needed to pay for expansion.
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