India had its airline-safety ranking downgraded by the U.S. Federal Aviation Administration after the South Asian nation failed to find enough officials to ensure safe operation of flights, putting the country on a par with Zimbabwe and Indonesia.
Etihad Airways PJSC’s purchase of a 24 percent stake in Jet Airways (India) Ltd. boosts its position in a high-growth market that’s being targeted by new entrants including AirAsia Bhd. as the state invites foreign investment.
Jet Airways India Ltd., the South Asian carrier in which Etihad Airways PJSC owns a 24 percent stake, posted a record quarterly loss and forecast it won’t be profitable until the second half of 2016. The shares slumped.