(MENAFN) Etihad Airways made a status informing that it acquired a 24-percent stake in India's Jet Airways in a deal costing USD379 million, reported Arab News.
Etihad added that it would invest USD150 million in Jet's frequent flyer program and has plans to acquire Jet's three pairs of Heathrow slots through the sale and leaseback agreement announced in February in a deal valued at USD70 million.
The deal is expected to grant Etihad better presence in the Asian market and, specifically, in fast-growing India.
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