When the chips are down, it is natural for one to become hysterical. Much the same is evident from the outburst of the peeved Jet Airways pilots. They asked Prime Minister Narendra Modi to probe conspiracy between State Bank of India (SBI). Etihad to sabotage Jet Airways and bring its flights down to a screeching halt. What they perhaps, hinting at the SBI roped into engineer a share market collapse of Jet Airways shares so that Etihad could acquire cheap some 25 per cent more stake from the hitherto 24 per cent to become the dominant shareholder.
Etihad hasn’t extended a helping hand to Jet Airways in its hour of existential crisis. It may mention that as per the extant foreign direct investment (FDI) norms. FDI in the aviation sector permitted under the automatic route up to 49 per cent by foreign airlines. It possibly beyond this with government approval on a case-to-case basis.Share this to your,