Abu Dhabi's Etihad Airways confirmed it had taken a 24 percent minority stake in Jet Airways (JET.NS) for $379 million.
The Gulf carrier said in an emailed statement it would subscribe to 27.3 million new shares at 754.74 rupees per share.
Jet said in a brief statement to the stock exchange earlier on Wednesday that its board had approved the allotment to Etihad.
Etihad,
which is on an aggressive expansion drive, will also make a $150
million equity investment in Jet's frequent flyer programme and spend
$70 million to buy Jet's three pairs of Heathrow slots through the sale
and leaseback agreement announced in February.
Jet's
majority ownership will remain with Indian nationals and Jet's founder
and non-executive chairman Naresh Goyal will hold 51 percent of the
airline after the deal, which is subject to shareholder approval, the
statement added.
As part of the deal Jet will establish a hub in Abu Dhabi and expand its reach through Etihad Airways' global network.
Air Asia India
has kick-started the process of setting up a team to operate its
flights out of Chennai. The airline floated by Air Asia and Tata Sons
expects to hire more than 50 flight attendants at a walk-in interview in the city next week.
Airports Authority of India sources said the airline's officials had
already approached them for space at the terminal and the airside to set
up the required infrastructure. The airline plans to connect smaller
cities from Chennai and may offer convenient changeover options to its
international services being operated to Kuala Lumpur.
"The
walk-in interview for flight attendants will be held on April 13. Hiring
of pilots is expected to start in May or June," said a spokesperson for
the airline. Around 5,000 people are expected to participate in the
interview, she added.
More than 10 senior
officials are expected to conduct the interviews. The airline considers
its employees, including flight attendants, "ambassadors to the brand"
and believes "an exceptional workforce is the key in elevating the
brand, setting the airline apart from the rest," said a statement from
the airline.
Air Asia India was formed after the Foreign
Investment Promotion Board gave its nod to form a new airline. The joint
venture will need to get a final permission from ministry of the civil
aviation and a licence from the Directorate-General of Civil Aviation.
"Infrastructure facilities at the airport will be set up and aircraft
imported only after we get these permissions," said a source. The
airline plans to use A320 aircraft.
For male and female flight
attendants, the candidates are to be between 20 and 35 years old,
possess the Secondary School Certificate (SSC) and Higher Secondary
Certificate (HSC) and fluent in spoken and written English, in addition
to the local language. Experienced flight attendants or fresh graduates
of any discipline will also be preferred.
There is new hope for
aspiring cabin crew, pilots and aeronautical engineers in the South.
Several experienced flight attendants, pilots and other staff employed
with grounded Kingfisher Airlines are expected to land jobs with the new
airline as they are familiar with airline operations and passenger
operations from Chennai.
Air Asia India has not yet revealed
the total count of the employees it will require to man its operations
in the country. AirAsia has a 49% stake in the joint venture, Tata Sons
30% and Telestra the remaining 21%.
