Jet-Etihad alliance runs into more hurdles over Singapore’s scrutiny.
The Competition Commission of Singapore has seemed to have added to more road blocks for the alliance between Indian carrier Jet Airways and Abu Dhabi’s Etihad. The fair-trade watchdog is making sure that there isn’t any possibility of a violation of the competition laws.
The alliance entails Etihad purchasing a 24 % stake in the Naresh Goyal led Jet Airways for about Rs. 2,060 crores . The deal has been going through rough patches ever since its announcement in April 2013.
After many months of scrutiny, the deal was finalized in 2013 after it was cleared by Indian regulators such as the fair trade watchdog CCI (Competition Commission of India) and the capital markets regulator SEBI.
The Competition Commission of Singapore is now the alliance’s latest hurdle, as it scrutinizes the provision of international air passenger transport service, with a specific focus on the region of Singapore.
A notice was issued by the CSS which said that it is waiting for feedback from their public and other stakeholders till July 11, 2014, after which it will take the final decision on the deal.
The Abu Dhabi based airlines Etihad operates to more than 85 passenger and cargo destinations across 50 countries.
Photo Credits: Deccan Chronicle
