Etihad Buys Jet Airways’ Heathrow Slots

Etihad Airways has announced the airline has concluded a transaction with Jet Airways to purchase the Indian carrier’s three pairs of Heathrow slots for US$70 million.
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.
Etihad says the deal further strengthens the existing commercial relationship, which came into effect in July, 2008, making provision for codesharing between the two airlines.
As previously advised, Etihad Airways continues to progress discussions
about further investment in Jet Airways.