Etihad Airways signs deal with Jet Airways

Abu Dhabi, Feb 28, 2013 (WAM) - Etihad Airways has concluded a transaction with Jet Airways to purchase the Indian carrier's three pairs of Heathrow slots for US$70 million, the carrier said in a statement. The purchase is part of a sale and lease back agreement signed on Tuesday, February 26, 2013. Jet Airways will continue to operate flights to London utilising these slots, it said. The deal further strengthens the existing commercial relationship, which came into effect in July, 2008, making provision for codesharing between the two airlines, Etihad Airways added. Etihad Airways said it continues to progress discussions about further investment in Jet Airways. - Emirates News Agency, WAM