Govt change in India not to affect Etihad-Jet deal: Hogan

Tags: News
A change of government in India will not affect Etihad's equity holdings in Jet Airways, chief of the Gulf carrier has said, expressing "full confidence in the Indian process".

"This isn't a political issue. We have entered into a partnership with a great Indian company," Etihad President and Chief Executive James Hogan said.

In the first foreign investment made in the Indian aviation industry, Etihad last year picked up 24 per cent stake in Jet Airways after months of reviews by Indian regulatory authorities.

"We have from day one worked through the proper process and have full confidence in the Indian process," Hogan said, stressing that the deal was in the interest of both carriers.

Asserting that Etihad had not breached the Indian aviation policy, he affirmed that the flag carrier of the UAE does not have managerial control over Jet Airways.

"We work within the aviation policy of that country and we work within a sector that has a major impact on all the countries we fly in and out of," Hogan was quoted as saying by the Gulf News.

"As much as we're going to take traffic, we're going to bring as much traffic in," he said.

The deal was "also great for Indian jobs... The stronger the Jet becomes, they will be able to employ more people," Hogan said.

Asked about the fate of the deal after the Lok Sabha elections when a new government takes over power, Hogan stressed that the equity stake was a "commercial agreement" for the two airlines to work together.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The US can no longer take India for granted, as Kerry’s visit shows

    Despite the feel good factor in Indo-US ties, not the least surprising given BJP’s long term support for free market and laissez-faire economy, the

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Why cleanliness is a vital human right

I have spent the past few months in India witnessing ...

Parvez Imam

Tourism agenda with a colonial undertone

Tourism is supposed to bring in foreign exchange and provide ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture