Reliance is not among the parties that submitted an Expression of Interest (EoI) to the lenders for acquiring Jet Airways. Given the current FDI norms, Etihad can increase its holding in Jet Airways under the automatic route to 49% from 24% now. “This is precisely the reason for the delay in resolution and the consequent grounding of Jet Airways,” the source said. Jet Airways had a domestic market share of 11.4% in February, and Air India 12.8%. Last February, Jet had a consolidated market share of 16.8 per cent while that of Air India was 13.2 per cent.

Source: Indian Express April 19, 2019 22:41 UTC