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#Inked: India and France to push ahead with multi-billion dollar fighter jet deal

 

India and France have agreed to overcome differences and finalize the sale of 126 fighter jets to India in a deal worth an estimated $15 billion, the Indian defence ministry said.

France's Dassault Aviation has been trying to clinch a deal to sell India its Rafale jets since New Delhi chose the company over other foreign plane manufacturers in 2012.

But disagreements over cost and work-sharing have slowed talks, while India's weak economy has stretched government finances.

On Monday, French Defence Minister Jean-Yves Le Drian met his Indian counterpart Manohar Parrikar, who was appointed defence minister last month.

"Both sides agreed to take forward the strategic co-operation between the two countries. They discussed all issues including Rafale. It was decided that whatever differences still existed would be resolved in a fast-track manner," said Indian defence ministry spokesman Sitanshu Kar.

Under the deal, which would provide a major boost to French domestic defence manufacturing, the first 18 planes will be made in France and shipped to India, while the remaining 108 will be produced by state-run Hindustan Aeronautics Ltd.

Rival manufacturers including the makers of the Eurofighter aircraft are hoping that the stalled Rafale deal will collapse, possibly opening the door to negotiations with a new vendor.

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Indian Government formally approves Jet-Etihad deal

The Indian government has approved a plan by Abu Dhabi-based carrier Etihad to buy a 24% stake in Jet Airways for $379m. The deal is the first foreign investment in India’s burgeoning aviation sector since the government raised the foreign ownership threshold to 49% of local airlines. The move has …

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Jet shareholders approve Etihad tie-up

Shareholders of Jet Airways has approved the sale of a 24% stake in the carrier to Abu Dhabi-based Etihad.  Naresh Goyal, Chairman of Jet Airways, welcomed the move at a shareholder meeting in Mumbai on Friday. “Etihad investment will help us to deleverage and grow in a sustainable manner.  This …

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Jet agrees $379 million stake sale to Etihad Airways

Jet Airways’ board of directors has given its approval for the sale of a 24% stake in the carrier to Abu Dhabi-based Etihad in a $379 million deal that is set to revolutionize the Indian aviation sector. The price agreed by Etihad reportedly represents a premium of more than 30% …

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Etihad buys Jet Airways’ Heathrow slots as talks improve

Etihad Airways has taken over Jet Airways’ slots at London Heathrow airport for $70 million deal as talks continue between the two carriers about a possible take over by the Abu Dhabi-based airlines. The move signals positive developments in the discussions and investors cheered the move after a delayed announcement …

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Etihad close to Jet Airways stake

Abu Dhabi-based Etihad Airways is close to taking a stake in India’s Jet Airways, the Mid-East airline said on Monday after reporting a tripling in profits for last year.   Such a deal would support the Indian carrier’s efforts to woo foreign investors to help cope with fierce competition and …

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