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Canada screams over IT outsourcing to India Capital Notes Wal-Mart studying FDI norms post split with Bharti LANCO opens negotiations with buyers for Karnataka power plant How important is Modiís German visit... Automobile sector in slump... TCS, Indiaís biggest block buster Lanco to sell Australian acquisition Excise duty may halt the war in SUV market Flipkart India in the red by Rs 280 crore Carlyle invests in Trehanís Medanta Medical Centre Jet-Etihad Rs 2000 plus crore deal to be cleared Smartphone prices may change Trends point to a hung assembly Hyundai Grand i10 awaiting launch ONGC to draw down on reserves to meet CAPEX needs Latin America beckons India for investments Renault revving up small car launch TVS bullish on the two wheeler market? Plans to double trade with Latin America German envoy Steiner caps a language row Infosys not to cut prices Airlines hit by service tax on lease Aircraft lessors to get protection from defaulting airlines Vodafone slapped with tax notice of Rs 3700 crore Singapore Airlines prefers Airbus Vodafone to buy out minority shareholders Fox Star Studios to tie-up with Bolly-wood and Kollywood Kolkata kisses goodbye to Ambi? Urja Sangam in Delhi GMR to raise US $ 250 mn thru QIP SpiceJet in the news again While MoTown is on a tailspin, the telecom sector is staging a rally Hunt for new finance secretary on...
 
Jet-Etihad Rs 2000 plus crore deal to be cleared

Air Asia, the Malaysian low cost airline is set to be launched on domestic skies, in collaboration with Tata Airlines, by end 2013. And now, there’s the additional news that Jet-Etihad’s Rs 2058 crore deal will be cleared soon by the Foreign Investment Promotion Board (FIPB). Spice Jet, Indigo, Go Air and Air India – all fighting for survival – will find the going tougher. The Jet-Etihad deal will  give Jet access to Middle Eastern sector and will give Etihad access to the Indian skies. While there appears to be no uncertainty about the clearance, both airlines are tense about last minute hiccups.

The Finance Ministry has written to the Jet management seeking clarification on who will hold how much equity and who will control the new company. There is a fear that if the shakeout in the airline industry continues, Jet might sell off its equity or reduce its equity in favour of Etihad making the latter the majority partner.

 

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