Hope flies for Jet Airways as Etihad gives binding bid to re-invest in the airline

NEW DELHI: Jet Airways may fly again, with its Abu Dhabi-based equity partner

Etihad

saying it want to re-invent in the airline. However, the

UAE

major said it will need

Indian investors

for the task of making Jet fly again.


In a statement, Etihad said it has on Friday "confirmed its interest to

re-invest

in a

minority stake

in Jet Airways, subject to conditions. India is one of the fastest-growing air transport markets in the world, and a significant economic partner of the UAE."

"Etihad has been working consistently with key stakeholders in India over the past 15 months to help find a solution which would ensure Jet’s return as a viable and competitive Indian airline, and continues to do so. Etihad re-emphasises that it cannot be expected to be the sole investor, and that, amongst other requirements, additional suitable investors would need to provide the majority of Jet Airways’ required recapitalisation," the airline said.