Jet- Etihad deal a win-win situation: Ajit
26 April 2013 2:03 AM GMT
Describing the over Rs 2,000 crore business proposal between Jet and Etihad airlines as a win-win deal, Civil Aviation Minister Ajit Singh on Thursday said it will be beneficial for flyers.
In the first foreign direct investment deal after India opened up the aviation sector, Jet Airways will sell a 24 per cent stake to Etihad Airways in a $379 million (Rs 2,058 crore) deal.
'It is a win-win deal, good for the flyers. It provides more competition and more connectivity and better efficiency,' Singh said.
‘Competition is always good for any industry’, he said on fare war and competition in the market, About the possible impact on the national carrier, he said, 'Air India has very limited operations today. If you do not allow other airlines to come wherever they want how will the passengers fly. Air India should look after themselves and gear up.'
In the first foreign direct investment deal after India opened up the aviation sector, Jet Airways will sell a 24 per cent stake to Etihad Airways in a $379 million (Rs 2,058 crore) deal.
'It is a win-win deal, good for the flyers. It provides more competition and more connectivity and better efficiency,' Singh said.
‘Competition is always good for any industry’, he said on fare war and competition in the market, About the possible impact on the national carrier, he said, 'Air India has very limited operations today. If you do not allow other airlines to come wherever they want how will the passengers fly. Air India should look after themselves and gear up.'
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