FIPB gives conditional approval to Jet-Etihad deal

NEW DELHI (Reuters) - The Foreign Investment Promotion Board (FIPB) gave conditional approval on Monday to a $379 million deal by Abu Dhabi's Etihad Airways to buy a stake in Jet Airways, paving the way for more acquisitions in the domestic aviation sector.

"We have approved with some conditions," Economic Affairs Secretary Arvind Mayaram told reporters on Monday after a meeting of the FIPB.

He did not elaborate.

Last month, the FIPB had said it wanted more details on who would be effectively in control of Jet Airways after the deal before making a decision.

(Reporting by Nigam Prusty; Editing by Miral Fahmy)