Jet Airways Wednesday said it has completed 24 percent stake sale to Abu Dhabi-based carrier Etihad Airways for Rs.2,069 crore.
Jet Airways said in a statement that "both airlines closed the transaction for the subscription of a 24 percent equity stake by Etihad Airways in Jet Airways".
"All requisite Indian regulatory approvals had been obtained by Nov 12, 2013. Jet Airways has, on Nov 20, 2013, issued and allotted 27,263,372 equity shares of a face value of Rs.10 each at a price of Rs.754.7361607 per equity share on a preferential basis to Etihad Airways," the statement said.
"The infusion of foreign direct investment in the aviation sector will result in economies of scale, grow traffic at our airports, and create job opportunities," said Naresh Goyal, chairman of Jet Airways.
"I am confident that this investment will greatly benefit all our stakeholders whilst significantly benefiting our customers who will now have access to a more expanded global network," Goyal said.
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