Jet-Etihad deal: Expect announcement by Feb 3

Jet Airways is likely to sign the stake sale deal with Etihad between January 22 and February 3, exclusive sources told CNBC-TV18. Both companies are currently finalising valuations for the deal.

Post the deal announcement both carriers will expand presence in Europe and US markets.

On Jan 3, Jet Air in a filing to the BSE said that while the company and Etihad are in talks regarding a potential investment by the latter in the former, there is no announcement to be made immediately.

"The discussions are in progress but no terms have been firmed up at present. Various structures are being explored by the legal and commercial teams and care is being taken to ensure that all the Indian regulatory requirements are fully complied with," it said.

By its very nature, there cannot, at this stage, be a firm time line as to the progress of these negotiations. Since no agreement has been reached with Etihad as yet, no regulatory approvals have been sought at present.
 
An appropriate announcement shall be made upon finalisation of the terms of the investment with Etihad as per legal and regulatory requirements, said the statement.