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Etihad Pays $70 million For Heathrow Slots From Jet Airways

Etihad.airways.1.750pixEtihad Airways concluded a transaction with Jet Airways to purchase the Indian carrier’s three pairs of Heathrow slots for $70 million, Abu Dhabi’s airline said in announcement yesterday, Wednesday, 27 February.

Jet-Airways-Fly-to-BarcelonaThe purchase is part of a sale and lease back agreement signed on Tuesday, 26 February 2013.  Jet Airways will continue to operate flights to London utilizing these slots.

According to Etihad, 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 continues to progress discussions about further investment in Jet Airways.

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