(MENAFN) James Hogan, CEO of Abu Dhabi-based Etihad Airways, expected the carrier to complete due diligence next week concerning a tie-up deal with India's Jet Airways, Reuters reported.
If sealed, the Jet deal would be the first foreign investment into India's aviation market after the government eased ownership requirements in September last year and allowed foreign carriers to buy up to 49 percent in domestic carriers.
Hogan said he had met with senior Indian aviation officials and ministers last week to understand the new rules of India's foreign direct investment scheme.
Etihad Airways last year invested in other airlines like Virgin Australia and Aer Lingus and raised its shareholding in Air Berlin and Air Seychelles, as it seeks to organically expand and compete with larger regional rivals such as Qatar Airways and Emirates Airline.
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