Etihad announces deal with Jet Airways for Heathrow slots

Abu Dhabi-based Etihad Airways has confirmed that the airline has concluded a transaction with Jet Airways to purchase the Indian carrier's three pairs of Heathrow slots for USD 70 million.

The purchase is part of a sale and lease back agreement signed on February 26.

Jet Airways will continue to operate flights to London utilising these slots, a statement released by the carrier here said.

According to the statement, the deal further strengthens the existing commercial relationship, which came into effect in July, 2008, making provision for codesharing between the two airlines.

As previously advised, Etihad Airways continues to progress discussions about further investment in Jet Airways.