Etihad buys Heathrow slots from India's Jet for $70m

Abu Dhabi carrier buys three pairs of slots amid ongoing talks over purchase of stake in Jet
By Reuters
Wed 27 Feb 2013 02:02 PM

Abu Dhabi's Etihad Airways paid US$70m to India's Jet Airways to buy three pairs of Jet's slots at London's Heathrow Airport, the Gulf carrier said in a statement on Tuesday.

"The purchase is part of a sale and leaseback agreement signed on Tuesday," the statement said, adding that Jet would continue flying to London using the slots.

Etihad, which is in talks with Jet on possibly taking a stake in the Indian firm, added that discussions about further investment in the Indian airline were continuing. It did not elaborate.

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