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.
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.
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.
Mumbai airport, the gateway to India’s financial capital, will open a new international terminal in its first major upgrade in three decades as the nation aims to ease infrastructure constraints that hurt growth.