Etihad-Jet deal proposal gets approval
Representative image
The Cabinet Committee on Economic Affairs today gave its approval to the proposal of Etihad Airways PJSC, United Arab Emirates for subscribing 2,72,63,372 equity shares of Rs.10 each of Jet Airways (India) amounting to 24 percent of the post issue paid up equity share capital for an amount not exceeding Rs.2057.66 crores. The Foreign Investment Promotion Board (FIPB) has recommended the proposal.
The approval would result in foreign investment amounting to Rs.2057.66 crores in the country.