Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
A Boeing 777-300ER aircraft of India's Jet Airways stands on the tarmac in Mumbai, May 13, 2007/AFP

World

Etihad chief says focused on India’s Jet Airways

A Boeing 777-300ER aircraft of India's Jet Airways stands on the tarmac in Mumbai, May 13, 2007/AFP

A Boeing 777-300ER aircraft of India’s Jet Airways stands on the tarmac in Mumbai, May 13, 2007/AFP

PARIS, Sep 20 – Abu Dhabi based Etihad airlines is focused on taking a stake in India’s Jet Airways, its chief executive said Friday amid media speculation it could invest in Italy’s troubled Alitalia.

When asked whether Etihad was interested in taking a stake in Alitalia, Etihad chief executive James Hogan told AFP that “At the moment I’m focused on India, transactions in India.”

He said Etihad has a strong relationship with Alitalia, and flies to Rome and Milan.

“We look at many businesses but we are primarily focused on Jet Airways,” said Hogan.

He said Etihad hopes to get the green light from Indian authorities in the coming weeks to acquire 24 percent of Jet Airways, which will give it a presence in a fast growing market.

Jet Airways received conditional approval in July to sell the stake worth $349 million.

Hogan was in Paris to meet with Air France KLM executives, part of regular meetings following a code-sharing agreement reached last year.

“Our relationship is working well,” said Hogan.

“We meet every four or five months to talk about opportunities,” he added.

Talk has swirled for months about Etihad possibly taking a stake in Alitalia, with speculation intensifying following comments this week by Italian Transport Minister Maurizio Lupi.

Advertisement. Scroll to continue reading.

He called on Air France KLM, which owns a 25-percent stake in Alitalia, to step up its investment in Alitalia or let it “seek another partner”.

Air France KLM, which itself has been posting losses, has indicated recently it stands by its Italian partner but was going to be demanding about the financial and economic conditions of investments aimed at its recovery.

Air France KLM declined to confirm media reports that its board will hold a meeting on Alitalia on Monday.

The French and Italian transport ministers are expected to discuss Alitalia when they meet next week to prepare for the annual Franco Italian summit.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...