Jet Airways, Etihad Airways say partnership going strong

MUMBAI: Jet Airways and its strategic partner Etihad Airways said both partners “continue to enjoy a strong, healthy relationship since the forging of the partnership three years ago”. “The two airlines benefit from each other’s networks and management skill sets. Sharing resources for the short, medium and long-term has always been part of the agreement. It was also planned for Etihad to provide support with personnel or executives until Jet Airways was able to source appropriately qualified people. Neither airline has moved away from this philosophy,” the airlines said in a joint-statement.

“Etihad Airways has representation on the Jet Airways’ board of directors, and all decisions at board level are made collectively,” the statement added.

ET had reported in its edition dated October 8 that six of Etihad’s senior executives in Jet's top management have quit in the last year and half. The Abu Dhabi based airline’s CEO James Hogan and its CFO James Rigney remain part of Jet’s board. Etihad owns 24% of Jet.

The deal was signed three years ago when Jet was struggling with low cash and high losses and Etihad wanted to access to India’s rapidly growing aviation market wherein it faced tough competition from Emirates and Qatar. “Etihad Airways entered into a strategic tie-up with Jet Airways to be part of one of the world’s biggest economies,” the statement also said.