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[June 21, 2014]
Jet Airways-Etihad deal under Singapore watchdog glare [DNA : Daily News & Analysis (India)]
(DNA : Daily News & Analysis (India) Via Acquire Media NewsEdge) Mumbai: The Jet-Etihad deal has run into fresh troubles as the fair trade watchdog of Singapore announced that it would conduct a scrutiny over the deal between the second largest carrier, Jet Airways and Abu Dhabi-based Etihad Airways, to check on any possible violation of competition laws.
"The Competition Commission of Singapore (CCS) is seeking feedback on the proposed commercial alliance between Etihad Airways and Jet Airways," said a statement issued by CCS on their website.
"CCS received a notification for decision on 6 June 2014, with regard to the proposed commercial alliance. This (alliance) relates to the provision of international air passenger transport services (and associated support services), with a specific focus on the Singapore origin and destination city pairs affected by the proposed commercial alliance," the statement further added.
Experts however said that CCS scrutiny will not really have any major impact on the deal.
More than a year after the announcement of the Jet-Etihad deal, the two airlines cleared the last regulatory hurdle in May this year. The deal received clearances from India's market regulator, Securities and Exchange Board of India (Sebi), while Competition Commission of India gave its nod to the deal last year.
Jet-Etihad was the first deal to be announced in April last year, after the government allowed 49% foreign direct investment (FDI) in the Indian airlines.
Credit:dna correspondent (c) 2014 @ 2014 DILIGENT MEDIA CORPORATION LTD. ALL RIGHTS RESERVED
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