The deal in which Etihad would acquire 24% stake in Jet Airways for about ￡2,058 crore has got the approval of Jet airways share holders. The deal is the first but not the last investment by a foreign carrier in an Indian airline since the change in the country's FDI policy last September. The strategic alliance with Abu Dhabi-based Etihad Airways would pare debt, lower the costs and improve the Indian carrier's profitability. At the EGM, shareholders approved the proposed issue of shares on a preferential basis to Etihad. However, these shares would be allotted after completion of all regulatory approvals.
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