Etihad acquista il 24% di Jet Airways


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Jet soars on talks of fresh equity to Etihad
The deal would indirectly bring down promoters? shareholding, around 80%, to 65
Nishanth Vasudevan / Mumbai Nov 24, 2012, 00:38 IST


Shares of Jet Airways surged 16 per cent to close at Rs 505.7 on Friday on speculation that Etihad Airways might buy 24 per cent in the company. Market sources said Jet might issue fresh shares to the Abu Dhabi-based carrier at Rs 800 apiece, which will help the Indian airline raise Rs 1,700 crore and cut debt.

Such a deal would value the Naresh Goyal-controlled airline at Rs 7,150 crore and indirectly bring down promoters’ shareholding from 80 per cent to 65 per cent on equity dilution, said analysts. Jet’s market capitalisation on Friday was Rs 4,366 crore. If the deal works, Etihad might secure a seat on Jet board, sources said.

A Jet spokesperson said: “We are unable to comment on market speculation.” Etihad did not respond to an email questionnaire.

Jet shares have surged 36 per cent in the past 10 days. According to one theory doing the rounds in the market, the company’s promoters are looking to sell five per cent stake to cut their holdings to 75 per cent, to comply with Sebi’s minimum public shareholding norms. The regulator has mandated listed companies to ensure public shareholders hold at least 25 per cent. Market sources said a group of operators are spreading rumours to push up the stock.

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On the sidelines of the company’s AGM in Mumbai in August, Jet Airways Chairman Goyal had said, “We will be controlling. If the sentiment and overall situation improves, I will have an open mind to dilute, but have control over the company.”

The comment was made before the government raised the foreign direct investment (FDI) limit in the aviation sector to 49 per cent in mid-September.

At that time, Goyal had said: “Today, I do not need (FDI). Tomorrow, I may need. There is nothing permanent in business.”

Etihad Airways, which has lapped up stakes in Air Berlin and Virgin Australia, will look to extend its geographical reach to India and other Asian markets, a top official had told Reuters in October.

If Jet raises Rs 1,700 crore through a fresh share sale, it would help the company bring down its debt, which is at around Rs 12,000 crore.

“Such a deal has can help build a lot of synergies including expansion of the company’s business into the Middle East,” said an analyst with a domestic broking firm, who tracks the stock. “The company has resorted to asset sales in the last few months to reduce debt,” he said.

According to a report by brokerage firm CLSA , the company is targeting to reduce debt by $400 million (about Rs 2,200 crore) during the year.

http://business-standard.com/india/news/jet-soarstalksfresh-equity-to-etihad/493508/
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

Etihad said to be close to $400m India deal

By Andy Sambidge

Saturday, 24 November 2012 11:25 AM


Etihad Airways is close to buying a 24 percent stake in India's Jet Airways in a deal worth $400m, it was reported on Saturday.

The possible deal for India’s second largest carrier would give Jet Airways a valuation of around $1.7bn, investment website VCCircle.com said.

Jet Airways shares touched a 52-week high on the bourses on Friday on the stake sale speculation.

“We do not have adequate information at this stage to comment on this issue,” a Jet Airways spokeswoman was quoted as saying.

In October, Etihad, Abu Dhabi's flag carrier which has expanded globally through stake purchases in firms like Air Berlin and Virgin Australia, said it was looking to extend its geographical reach to India and other Asian markets.

James Hogan, the airline's president and CEO, said at the time: "We are very clear that India and Asia represent an opportunity."

Hogan said after its push into Australia with a 10 percent stake in Virgin Australia and Europe with 29.2 percent in Air Berlin and 3 percent in Aer Lingus, the airline will now look for growth in Asia.

In September, Etihad welcomed the Indian government’s allowing foreign airlines to pick up a stake of up to 49 percent in Indian carriers.

Ailing Kingfisher Airlines, SpiceJet and Jet Airways are all said to be on a lookout for strategic investors.

Dubai's Emirates has denied plans to buy a stake in any Indian carrier.

Last month, Etihad reported revenue of $1.3bn in the third quarter, a 19 percent rise year-on-year. Passenger revenue was boosted by code sharing and partnerships - revenues from these two categories jumped 51 percent to $182m.

http://www.arabianbusiness.com/etihad-said-be-close--400m-india-deal-480579.html
 
Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

L'eventuale chiusura o meno di questo deal sarà, credo, determinante per il rumor di un possibile investimento in AZ
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

Nel senso che uno esclude l'altro?
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

Tifo per un investimento in AZ, ne abbiamo bisogno!
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

maclover ha detto:
Penso di si.
Clicca per espandere...

Partendo dal presupposto che quelle su AZ sono sempre state speculazioni, ma anche provando a pensare a qualcosa di concreto.....pensi che EY non avrebbe le risorse per investire sia in 9W che in AZ?
E' chiaro comunque che EY punti verso un blocco con SkyTeam in Europa (AF-KL-AZ) e dubito anche che AB, sebbene dicano adesso stanno bene in OW, rimarranno ancora lì per molti anni.
Non passano giorni in cui De Juniac non faccia altro che la corte ad AB, di quanto sarebbe bello averli nella stessa famiglia.

Probabilmente tra qualche anno ci sarà uno zoccolo duro all'interno della stessa SkyTeam forgiato da scambi azionari, partecipazioni, JV etc......con all'interno DL, AF, KL, AZ, AB, EY, 9W.

Io non lo vedo come obiettivo di medio termine così improbabile.
 
Ultima modifica:
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

DusCgn ha detto:
Probabilmente tra qualche anno ci sarà uno zoccolo duro all'interno della stessa SkyTeam forgiato da scambi azionari, partecipazioni, JV etc......con all'interno DL, AF, KL, AZ, AB, EY, 9W.

Io non lo vedo come obiettivo di medio termine così improbabile.
Clicca per espandere...
Uno scenario di evoluzione delle alleanze attuali in un organismo più integrato per massimizzare sinergie e minimizzare la concorrenza interna. Non è uno scenario da escludersi.
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

Mi capisco che la Etihad vol far la sborrona ma mi con le indiane ci sarrei attento.
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

Posso assicurare che finora sono solo fantasie le voci di un ingresso diretto di EY nel capitale cai.
un pò come le voci sui 777 in aggiunta.
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

E' arrivata la conferma dell'acquisto del 24% di Jet Airways per $379 milioni. Strategicamente interessante per EY la possibilita' di utilizzare Jet anche per feederare AUH.
Interessante la menzione che in realta' Etihad con questo deal porta l'investimento in Jet a $600 milioni, visto che aveva gia' acquistato a Febbraio 3 coppie di slot a LHR per $70 mln ed aveva gia' investito $150 mln per la maggioranza del programma frequent-flyer Jet Privilege.

http://www.bloomberg.com/news/2013-...s-to-sell-stake-to-etihad-to-fuel-growth.html
 
Alleanza strategica tra ETIHAD AIRWAYS e JET AIRWAYS

Etihad Airways e Jet Airways hanno annunciato oggi che la compagnia di bandiera degli Emirati Arabi Uniti ha accettato di sottoscrivere 27.263.372 nuove azioni in Jet Airways, ad un prezzo di INR 754.74 per azione. Il valore della partecipazione è di 379 milioni di dollari, Etihad Airways deterrà il 24 per cento del capitale sociale di Jet Airways. Un più ampio impegno complessivo di Etihad Airways verso Jet Airways prevede l’iniezione di 220 milioni di dollari, per creare e rafforzare una partnership di ampio respiro tra i due vettori. Come parte di questo accordo, Etihad Airways ha pagato 70 milioni di dollari per l’acquisto di tre coppie di slot Jet Airways ad Heathrow, attraverso un accordo di vendita e locazione annunciato il 27 febbraio 2013. Jet Airways continuerà a operare voli per Londra utilizzando questi slot. 150 milioni di dollari saranno investiti da Etihad Airways per mezzo di una partecipazione di maggioranza nel programma frequent flyer Jet Airways “Jet Privilege”, che sarà soggetto ad opportune approvazioni di legge e accordi aziendali commerciali finali, che dovrebbero essere completati entro i prossimi sei mesi.

Nel quadro della partnership strategica, che sarà oggetto di piena approvazione normativa e da parte degli azionisti, le compagnie aeree dovranno gradualmente espandere le operazioni esistenti e introdurre nuove rotte tra l’India e Abu Dhabi, offrendo una scelta sempre più ampia ai viaggiatori. Verrà associato il loro network di 140 destinazioni, con Jet Airways che stabilirà un gateway nel Golfo ad Abu Dhabi, ampliando la sua portata attraverso il crescente network globale di Etihad Airways. I passeggeri provenienti da 23 città in India potranno beneficiare di collegamenti diretti verso destinazioni internazionali.

I dettagli dell’investimento sono stati presentati dal Presidente e CEO di Etihad Airways, James Hogan, e dal Presidente di Jet Airways, Naresh Goyal. Mr Hogan ha dichiarato: “Siamo lieti di aver raggiunto questa tappa significativa in India con Jet Airways e siamo certi che la collaborazione porterà notevoli vantaggi e opportunità di crescita globale per entrambe le compagnie. Si prevede una crescita immediata del fatturato e opportunità di sinergie di costo, con le nostre stime iniziali di un contributo di diverse centinaia di milioni di dollari per entrambe le compagnie aeree nei prossimi cinque anni. Questo accordo ci permetterà di competere in modo più efficace in uno dei mercati più grandi e in più rapida crescita al mondo. Siamo ansiosi di collaborare con Jet Airways e operare in maniera costruttiva con loro e le parti interessate, per costruire una compagnia aerea sostenibile, competitiva e reddititizia”.

Mr Goyal ha detto: “Vorrei ringraziare il governo indiano, in particolare i ministeri della aviazione civile, commercio e industria, e delle Finanze, per la lungimiranza di introdurre la riforma storica che permette gli investimenti diretti esteri nel settore dell’aviazione civile in India. L’infusione di investimenti diretti esteri nel settore domestico si tradurrà in un miglioramento dell’economia dell’aviazione, una crescita del traffico nei nostri aeroporti e la creazione di opportunità di lavoro. Sono estremamente felice di essere in una partnership con una compagnia aerea che condivide la nostra filosofia operativa incentrata sul cliente e la nostra etica. Non ho dubbi che questa partnership con Etihad Airways sia ottimale per tutti i nostri stakeholder, in particolare i nostri ospiti, che avranno così accesso a un network globale molto più esteso. Questa operazione rafforza ulteriormente la situazione patrimoniale di Jet Airways e, cosa più importante, è alla base di flussi di entrate future, che accelereranno il nostro ritorno alla redditività sostenibile e alla liquidità”.

Una componente chiave del partenariato di ampio respiro è l’espansione del codesharing su voli con passeggeri che beneficiano di diritti ‘earn-and-burn’ reciprochi per i programmi frequent flyer delle compagnie. La proposta di ampliamento del codeshare permetterà ad Etihad Airways di cogliere il mercato turistico in rapida crescita in India, fornendo ulteriore traffico passeggeri alle rotte Etihad Airways verso Medio Oriente, Nord America e le destinazioni europee, e dare ai passeggeri Jet Airways l’accesso a una rete estesa. Etihad Airways vola attualmente su nove destinazioni indiane tra cui Delhi, Chennai, Mumbai, Kozhikode, Thiruvananthapuram, Hyderabad, Bangalore, Ahmedabad e Kochi, con un totale di 59 voli settimanali. La partnership aiuterà anche a guidare un significativo aumento della crescita del traffico attraverso l’Abu Dhabi International Airport, così come sugli aeroporti internazionali di Delhi e Mumbai, hub di Jet Airways. Vantaggi principali per entrambe le compagnie aeree deriveranno dalle sinergie e dai risparmi di costi in settori quali l’acquisizione della flotta, la manutenzione, lo sviluppo del prodotto e la formazione. Le compagnie aeree dovranno esplorare opportunità congiunte di acquisto per il carburante, pezzi di ricambio, attrezzature e catering, oltre a servizi esterni, come le assicurazioni e il supporto tecnologico.

Altre aree di cooperazione includeranno formazione congiunta di piloti, assistenti di volo e tecnici, così come la manutenzione dei tipi di aeromobili comuni e il consolidamento dei programmi di fidelizzazione della clientela. Sarà istituito un ufficio comune di gestione del progetto, per garantire la sinergia ad entrambe le parti. La proprietà sostanziale e il controllo effettivo rimarranno indiani, con Goyal come presidente non esecutivo, con il 51 per cento di quote della società. L’ investimento Etihad Airways in Jet Airways segue le partecipazioni di minoranza della compagnia aerea in airberlin, Air Seychelles, Virgin Australia, e Aer Lingus nel corso degli ultimi 12 mesi.

(Ufficio Stampa Jet Airways - Etihad Airways)

http://www.md80.it/2013/05/01/alleanza-strategica-tra-etihad-airways-e-jet-airways/#more-11067
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

Etihad Partners With South African Airways to Expand Footprint

By Kamlesh Bhuckory - May 6, 2013 12:58 PM GMT+0200

Etihad Airways PJSC signed a route- sharing alliance with state-owned South African Airways as the Abu Dhabi-based carrier expands its reach into Africa.
SAA, as the state-owned airline is known, will code-share on 12 Etihad routes, while the Middle East airline will access 10 new African cities, the companies said today in Johannesburg.
Etihad Chief Executive Officer James Hogan is seeking deeper ties into Africa, where he predicted passenger traffic will expand 6.8 percent a year until 2016, making it the fastest growing region in the world.
“Our road map in Africa is very limited,” he said at a press conference. “We see code-share as a key point of our strategy.”
SAA’s agreement with Etihad coincides with a plan to return to profitability with the aid of cost cuts and more fuel efficient aircraft after posting a 1.36 billion rand ($151.8 million) loss for the year ending March 2012. The airline named Monwabisi Kalawe as CEO on April 19, as the “custodian of the turnaround strategy,” according to Minister for Public Enterprises Malusi Gigaba.
“We are seeing some green shoots appearing,” acting CEO Nico Bezuidenhout said in a interview. The airline has saved about 1.3 billion rand in the year ending March, he said.
As part of its fleet renewal plan, the airline will lease four Airbus A320s this year and 16 more by 2017, he said. The Airbus will replace older Boeing 737 and Airbus A319s, he said.
To contact the reporter on this story: John Bowker in Johannesburg at jbowker2@bloomberg.net
To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

Will Etihad’s multilateral strategy rescue Jet Airways?

Etihad Airways’s Australian CEO James Hogan doesn’t have to think too hard about what to say. This week, he said: “Etihad will discuss ways to further integrate the two networks and help the airline achieve efficiency, build revenue and reduce costs.”

He wasn’t talking about Jet Airways, his most high-profile investment which is likely to be given permission for take-off any time now. He was speaking in Belgrade, where he signed an agreement with the Serbian deputy prime minister to pick up a majority stake in Air Serbia, the latest carrier to come into Etihad’s embrace. When the formalities are complete over the next few months, Etihad will own 49 percent in the loss-making Serbian national carrier.
At different times in the past two years, Hogan has made very similar statements about Air Berlin, Aer Lingus, Air Seychelles, Virgin Australia and Jet Airways. Just a decade old, the mid-sized Etihad (70 planes, mostly wide-bodies) has been executing its own version of the ‘string-of-pearls’ strategy around the world, and Jet is only one of them. At the core is not just an equity holding, but a well-crafted airline-cum-airport strategy where Abu Dhabi becomes a crucial hub in this part of the world. Etihad’s expansive web of bilateral agreements with many airlines is built on the reality that airline hubs bring economic prosperity. In many ways, Hogan is thus not only shaping the future of Etihad, but even the future of the Emirate of Abu Dhabi.
Etihad Airways CEO James Hogan gestures before signing a strategic partnership deal in Belgrade. Reuters

In financial terms, Etihad’s investments have just begun to pay off. In 2012, revenue from codeshares with partner airlines was about 19 percent of total revenues. Codeshare and equity partnerships delivered close to $629 million. In terms of scale, though, Etihad is still far behind its older and possibly more glamorous rivals Emirates and Qatar Airways. Yet it is gradually making a mark through its unique model. It already boasts of the largest network for any Middle East carrier, even if less than a third of it is operated with its own metal birds.
Rebuilding Jet
Hogan’s strategy for Jet Airways and India is unlikely to be very different from what he has done around the world. Though the Foreign Investment Promotion Board cleared Etihad’s proposal to pick up a 24 percent stake in Jet, the deal drew much flak for being a sellout. Reality is that Naresh Goyal’s business model was broken and would not have been able to last very long. Old Jet soldier Saroj Datta, who has been part of the airline since its inception, minces no words on the situation. “Raising funds was proving to be extremely difficult, and survival would have been tough if not impossible,” he says. Datta had been part of Jet’s senior management for 18 years and has been reading the writing on the wall for years now.
Jet Airways lost its lead position in the Indian market over the past five years after low-cost carriers (LCCs) hit their stride. Goyal was unable to adapt to this shift in market preference for LCCs, but not for want of trying. In fact, he tried too hard and fell flat. From acquiring Air Sahara to fend off Vijay Mallya and Kingfisher, to lobbying fiercely against foreign airline investment, to trying to make his own low-cost airline Jet Konnect click, he tried everything in the book and outside it. Nothing worked. Jet’s debt mounted to $2.1 billion and needed rescuing by a white knight.
Will Etihad save Jet? “We have seen airlines tied into the Etihad network; [they] all show big improvements once they come under the umbrella. So I would expect to see the same at Jet,” says Addisson Schonland, president of Innovation Analysis Group, an aviation-focussed market research company based in the US. According to Schonland, the challenge will be how the people at Jet deal with this change. Change is coming, he warns, no doubt about it.
Schonland says the folks at Jet will have to realise that their focus is not on Indian competition, but global competition. Etihad and its partners compete against global alliances. Jet will have to “up its game” and that would mean a change of pace for its people. Every alliance is only as good as its weakest partner, and Jet wouldn’t want to be the weak link, he says.
Looking ahead on the changes in Jet’s network, Amber Dubey, partner and head of aviation at KPMG, says Etihad will now have access to 26 Indian cities. A lot of the key decisions will obviously be taken jointly. The new deal will change the nature of international routes for Jet. Most European services are likely to be dropped and the focus will be on connecting to Etihad’s hub in Abu Dhabi. Jet will become more regional, with a heavy focus on providing passenger feeds to Etihad. Ernie Arvai of aviation consulting firm AirInsight says the two airlines will try to provide a more seamless experience for passengers. Aircraft acquisition, seat configurations, and cabin service will be much more integrated.
Arvai says the only question mark is on how deep the alliance will be in operational as well as marketing activities. Given the strong management team at Etihad, they are likely to establish a plan that will slowly integrate the aspects that could result in savings, and aggressively move forward with those. The first focus could be on ground handling at jointly used airports, in which one airline will handle the other’s passengers and baggage without duplication of efforts.
Yet, to really understand what Jet is likely to go through, it might help to look at what Etihad has done with other airlines globally.
The Etihad Way
In some ways, Hogan and his backers in Abu Dhabi are like the Lakshmi Mittals of the airline industry. Just as the steel billionaire fashioned an empire by buying out key, mostly distressed steel projects and turned them around to form a larger empire, a big part of Etihad’s ‘multilateral’ strategy is to identify loss-making airlines with access to key source markets. For example, the deal with Air Berlin provided access to the German domestic market—one of the largest in Europe—in the face of bilateral restrictions. Like Dubai and Qatar, Abu Dhabi too has little to boast about in terms of a home market. The latest deal with Air Serbia allows access to the Balkans.
The second feature of all of Etihad’s tie-ups is the careful nurturing of loyal customers. Hogan has developed a collection of frequent flier programmes (FFPs) from airlines that it has a stake in and plans to weld them into his own. In India, an early step was to pick up half of Jet’s FFP Jet Privilege flyers for $150 million. The ability to earn and burn miles is critical to the creamy layer of airline customers. Etihad also owns 70 percent in Air Berlin’s FFP Topbonus.
The third is increasing efficiency. Though Etihad’s equity tie-ups are still in the early stages, Hogan says they have led to costs going down by over 5 percent last year. This can work in not so conventional ways. For example, Air Berlin was cutting jobs last year, mostly pilots and crew. Half the pilots were transferred to Etihad even as the German carrier cut its fleet and its majority shareholder prepared for international expansion. The Etihad group has been able to renegotiate deals with suppliers. The first meeting of all the CEOs in the group was held in May this year.
The airline industry is notorious for losing money hand over fist. Alliances, tie-ups and sharing of resources have been standard practice around the world for decades. Code-sharing is a tool used in dozens of variations by airlines to fill their seats. In many ways, Etihad is likely to succeed because unlike open-ended alliances, it has equity and control. The large alliances (like Star or Oneworld) are co-operative. The Etihad version comes with a lot more power because equity means enforcing rather than persuading traffic to board Etihad, says Schonland. He is convinced the model is scalable as long as it continues to be financially strong and can afford investing in each deal.
Speaking on the sidelines of the IATA annual general meeting in Cape Town earlier this year, Hogan had shared his global plans with the media. He is convinced that Etihad will grow organically. Real acceleration for the airline begins in 2015-16, when it starts taking deliveries of big birds like the A380 and Boeing 787. In his mind, the day is not far when Air Berlin could fly directly to India. This seems to be wishful thinking, considering the opposition there was to the Jet-Etihad tie-up. Amber Dubey, who has been advising both the Ministry of Civil Aviation and airlines, is among the few opinion leaders bullish on the deal. He says it will help the Indian civil aviation industry by enhancing capacity, increasing competition and bringing down airfares. He is all for freeing the airline business from FDI restrictions. “Let there be as many foreign airlines operating in India through their 100 percent subsidiaries or by buying into Indian carriers. India will only gain,” he says.
So will Etihad.




 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

[h=1]Etihad: entro settembre via libera all’acquisto di Jet Airways[/h][ 0 ] 3 settembre 2013 11:41
Etihad Airways prevede che l’investimento da 600 milioni di dollari destinato all’acquisto del 24% di Jet Airways e slittato oltre il termine del 31 agosto, riceva entro la fine di settembre il via libera dalle autorità indiane. L’accordo è stato ritardato dai parlamentari dell’opposizione per timore che il previsto incremento dell’offerta posti tra l’India e gli Emirati Arabi favorisca più Etihad che le compagnie aeree indiane.
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

Etihad’s plans to launch its Indian expansion from 01-Nov-2013, when it will treble the number of seats it operates on its Abu Dhabi–Mumbai and Abu Dhabi–New Delhi routes. Both routes will see frequencies increase from daily to double daily and the deployment of larger aircraft.


Etihad will deploy three-class A340-600 aircraft on one of the daily Abu Dhabi-Mumbai frequencies, replacing a smaller two-class A330-200 aircraft. An A330-200 will be deployed on one of the daily Abu Dhabi-New Delhi frequencies, replacing the existing A320.


The carrier also plans to upgrade its daily Abu Dhabi–Chennai service before the end of 2013, up-gauging the route from 136-seat A320 equipment to new A321 equipment, with 174 seats. Further details of new routes between Abu Dhabi and India and codeshare services with Jet Airways will be announced progressively, as approvals are received and operational details are finalised.


Earlier this year, Etihad Airways announced a USD379 million agreement to acquire a 24% stake in Jet Airways, which is still awaiting final regulatory approval expected by the end of Sep-2013. In a total package valued at USD900 million, Etihad also announced an agreement to acquire a majority stake in the Indian airline’s frequent flyer programme, for USD150 million; the acquisition and lease-back of three pairs of slots at London Heathrow Airport for USD70 million; and financing support for USD300 million of foreign loans. The deal is the first involving a foreign carrier and an incumbent Indian airline since the Indian Government relaxed its policy on foreign direct investment in aviation in Sep-2012.


Revised bilateral agreement and Jet deal will make India Etihad’s prime market
Etihad Airways’ deal with Jet Airways was always about market access. Even before that regulatory approval has been finalised, Etihad Airways is moving on the opportunity offered.


The Etihad-Jet deal and capacity expansion is previewed under a major revision of the bilateral air services agreement between India and Abu Dhabi, signed earlier in the year. The new agreement adds an allocation of 36,670 seats per week between India and the emirate over three years, up from the current entitlement of 13,600 seats. Other key features of the bilateral agreement include access to 20 points of call in India for Abu Dhabi carriers, and permission for change of gauge of aircraft in Abu Dhabi for Indian carriers. Domestic and third party code sharing is permitted and there are no restrictions on aircraft type. The agreement was only granted final approval by the Indian Cabinet Committee on Economic Affairs earlier in Sep-2013.


The revised bilateral agreement has been controversial in some quarters of India. Political leader Subramaniam Swamy recently filed a petition with the Supreme Court, labelling the bilateral air services agreement a ‘sweetener’ for the Jet-Etihad deal.


India is the largest single country for both the UAE and the Middle East aviation market as a whole, in terms of seats flown and flight frequencies. However, even with a total of nine Indian destinations – Delhi, Chennai, Mumbai, Kozhikode, Thiruvananthapuram, Hyderabad, Bangalore, Ahmedabad and Kochi – in operation, Etihad has been one of the smaller carriers in terms of capacity between the Gulf and India. It had maintained a lower profile in India relative to other Gulf carriers such as Emirates and Qatar Airways, operating primarily narrowbody aircraft. The carrier had not been aggressively pursuing an expansion of the Abu Dhabi-India bilateral until the negotiations with Jet reached an advanced stage
 
Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

[h=4]Indian regulatory approval for Etihad’s US$600m investment in Jet Airways “on a good track”


Etihad Airways remains confident that its US$600 million investment deal with Jet Airways is “on a good track” despite facing India’s regulatory hurdles that have repeatedly delayed the ratification of the agreement.


Reports on Tuesday said the Securities and Exchange Board of India had given its nod for the deal after both airlines made revisions to comply with its conditions.


However, regulatory approval is still needed from the competition commission of India and the cabinet committee on economic Affairs.


“We are not there yet, but [we are] on a good track,” said Peter Baumgartner, Etihad’s chief commercial officer. “There are a couple of final regulatory hurdles but we are confident about the future to complete the deal.”


Etihad in April announced the agreement to acquire a 24 per cent stake in Jet Airways for $379m. It is investing a further $150m in Jet’s frequent flyer programme and $70m to buy Jet’s six landing slots at Heathrow Airport through a sale-and-leaseback agreement.


India’s foreign investment promotion board gave its approval of the deal in July.


At the start of last month, Etihad extended the deadline for the second time for regulatory clearances for the deal to the end of the month.


Etihad said then that the Indian authorities were expected to approve the deal “imminently”. That deadline lapsed on Monday.


Analysts say it is unclear how long it will actually take for the final approvals to come through.


Saj Ahmad, the chief analyst at StrategicAero Research,says the protracted deal approval process is a consequence of India’s complicated bureaucracy.


“It seems that the powers that be in India are happy to make Jet and Etihad wait until the deal is ratified,” Mr Ahmad said. “Etihad’s patience is to be applauded. It’s a surprise they haven’t taken their millions and walked away from this perennial mess that India seems to wallow in.”


The securities and exchange board of India had to be satisfied that Jet would not relinquish significant control to Etihad before it gave its approval, according to the Press Trust of India.


When all the approvals are given, Etihad would become the first foreign carrier to acquire a stake in an Indian airline after New Delhi in September last year permitted foreign investment of up to 49 per cent in India’s carriers.


Etihad’s investment in Jet is part of its strategy to invest in foreign airlines and expand its global network.


Mr Baumgartner said Etihad was “not closed for future partnerships”.


Etihad said last month it planned to dramatically increase its passenger capacity and flights to India over the coming months, including tripling the capacity on its routes between Abu Dhabi, Mumbai and New Delhi.


“The Indian subcontinent is a major growth market … and the deal will give us a strategic partnership,” Mr Baumgartner said.


Etihad is also evaluating orders for a range of aircraft from Boeing and Airbus after Emirates Airline said it was planning an “enormous” contract for Boeing’s new 777X model.


“We are in discussion with both manufacturers pretty much right across their entire portfolio of aircraft,” Mr Baumgartner said.


Tim Clark,the president of Emirates, said on Tuesday the airline was looking to replace 175 twin-engine 777 wide-bodies in its fleet.


Etihad was operating 78 passenger and cargo aircraft in July, including 22 Airbus A330 wide-bodies and 12 A340s.


It has orders for 10 A380 superjumbos and 12 A350s – a rival to Boeing’s 777 – as well as 41 smaller Boeing 787 Dreamliners.


Etihad’s fleet is scheduled to increase to 159 planes by 2020.


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Re: Ancora shopping per Etihad, vicino all'acquisto del 24% di Jet Airways ?

kenyaprince ha detto:

“We are not there yet, but [we are] on a good track,” said Peter Baumgartner, Etihad’s chief commercial officer. “There are a couple of final regulatory hurdles but we are confident about the future to complete the deal.”
Clicca per espandere...
Sembra che stiano riuscendo a superare la mastodontica, notoria e lentissima burocrazia indiana. Good luck.
 
Etihad: Governo indiano concede via libera ad acquisto 24% Jet Airways

Roma, 04 ott - Il Governo indiano ha approvato l'acquisto da parte della compagnia aerea di Abu Dhabi Etihad del 24% del vettore indiano Jet Airways. L'accordo deve ancora ricevere il via libera dall'ente governativo che regola la concorrenza nel settore industriale. rro 04-10-13 09:29:28 (0082) 5

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