MUMBAI/DUBAI: India's Jet Airways will sell a minority stake to fast-growing Abu Dhabi-based Etihad Airways for roughly $379 million after months of negotiations, giving a lift to India's embattled aviation industry.
The investment would be the first by an overseas operator in an existing Indian carrier since the country relaxed ownership rules in September to allow foreign carriers to buy up to 49 percent in local airlines, which face stiff competition and high operating costs.
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