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Feb 27, 2013, 03.37 PM IST | Source: Reuters

Etihad buys Heathrow slots from Jet for $70m

Abu Dhabi's Etihad Airways paid $70 million to Jet Airways to buy three pairs of Jet's slots at London's Heathrow Airport, the Gulf carrier said in a statement on Tuesday

Etihad buys Heathrow slots from Jet for $70m

Abu Dhabi's Etihad Airways paid $70 million to Jet Airways to buy three pairs of Jet's slots at London's Heathrow Airport, the Gulf carrier said in a statement on Tuesday.

"The purchase is part of a sale and leaseback agreement signed on Tuesday," the statement said, adding that Jet would continue flying to London using the slots.

Etihad, which is in talks with Jet on possibly taking a stake in the Indian firm, added that discussions about further investment in the Indian airline were continuing. It did not elaborate.

Also read: Etihad signs agreement with Kenya Airways

Jet Airways stock price

On December 19, 2014, Jet Airways closed at Rs 399.50, down Rs 4.65, or 1.15 percent. The 52-week high of the share was Rs 458.00 and the 52-week low was Rs 203.50.


The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -2.04.

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