In April Abu-Dhabi's Etihad had picked up 24 percent stake in Jet airwayy and since then the deal is getting delayed due to either political or regulatory hurdles. Read This: Ajit Singh meets Sonia Gandhi amidst Jet-Etihad deal row Jet Airways and Abu Dhabi's Etihad will have to make required changes in the agreement as stipulated by markets regulator Sebi and the Foreign Investment Promotion Board, said Singh in an interview to CNBC-TV18. He further said that he is confident about Jet-Etihad satisfying the regulator. Singh has been in news after the PMO released a note seeking clarification issues pertaining to the deal and a bilateral pact between India and Abu Dhabi raising the seat entitlements on flights between the two countries. However, Singh clarified that there is nothing wrong in Etihad picking up stake in the carrier and the delay is due to political differences. Rubbishing claims about the deal being a security threat, Singh said he sees no security threat in Etihad picking up stake in the Indian carrier On the ongoing controversy about the ministry granting additional flying rights to the UAE, Singh defended the move and said, the decision to hike the number of seats on the sector was based on recommendations of an inter-ministerial group which is influenced by the overall economic interest of the country. However, he will be taking the bilateral agreement discussion to the Cabinet in next 15 days, he said and also clarified that the increased bilateral is not to favour Etihad which is flying into India since years, but it is based on factors like improved passenger traffic on the route.  via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHAR4cK3EdeE_eoRmc1aXO9cYVlqg&url=http://www.moneycontrol.com/news/business/no-security-threatjet-etihad-deal-ajit-singh_914808.html | |||
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