Addendum
Etihad and Jet still good friends
November 1st 2016
All is well. That was the message from Abu Dhabi’s Etihad Airways and India’s Jet Airways last month after India’s Economic Times reported the two airlines were headed in different directions. Read More »
All the Etihad senior executives seconded to Jet “had quit” the Indian carrier in the last 18 months to take up other positions within the Etihad Group, the story said.
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They included former Jet chief executive, Cramer Ball, now CEO at Alitalia; Martin Drew vice president cargo; Rajeev Nambiar vice president sales; Renyl Rauf, vice president financial planning, reporting and projects as well as consultants Roy Kinnear now CEO of Air Seychelles and Rangesh Embar. The newspaper said the management changes meant control of Jet had returned to its founder, Naresh Goyal.
Neither Jet nor Etihad, which has equity of 24% in Jet, were impressed by the report. Both partners “continue to enjoy a strong, healthy relationship since the forging of the partnership three years ago”, a joint statement said. “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 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. Etihad Airways has representation on the Jet Airways’ board of directors, and all decisions at board level are made collectively.”
Etihad Group chief executive , James Hogan, and Etihad’s chief financial officer, James Rigney, remain part of Jet Airways’ board, the airline said.
Etihad bought into Jet three years ago, when the Indian carrier was losing money. The airline has been turned around and is in profit. “Etihad Airways entered into a strategic tie-up with Jet Airways to be part of one of the world’s biggest economies,” the statement added.
