Despite various setbacks, Jet Airways says the deal with Abu Dhabi-based Etihad Airways is in its final stages, with the necessary financial and regulatory approvals likely to be completed within the next few months. In April, Jet Airways sold a 24% stake to Etihad Airways. The Middle Eastern carrier will subscribe to 27.3 million new shares of Jet Airways at 754.74 rupees ($13.92) per share. As part of the agreement, which was approved by Jet’s board of directors, the majority ownership of Jet will remain with Indian nationals.
NEW DELHI — Rolls-Royce aims to double its defense business in the next three to five years and is looking to team up with Indian firms, the company says. One such collaboration was the recent International Aerospace Manufacturing Pvt Ltd (IAMPL), a joint venture between Rolls-Royce and India’s Hindustan Aeronautics Ltd. (HAL) that was inaugurated in Bengaluru in the southern state of Karnataka.
