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.
Kingfisher Airlines Ltd.’s operating license will lapse tonight, after the grounded Indian carrier failed to convince authorities it has enough funds to restart operations following five straight years of losses.
India suspended Kingfisher Airlines Ltd.’s operating license after the cash-strapped carrier failed to resume flights because of a strike by engineers and pilots demanding seven months of unpaid salaries.
India’s biggest airlines are turning to the government and international credit markets to reorganize $13 billion of debt after benchmark bond yields in Asia’s third- largest economy surged to a three-year high.