Etihad Airways, which is likely to get a ruling in its favour from the Securities and Exchange Board of India for its deal with Jet Airways, remains committed to the Indian market as a "long-term, strategic gameplan" James Hogan, President and Chief Executive Officer of the airline told journalists on Sunday in Abu Dhabi.
Despite long delays in getting clearance for the deal to buy 24 per cent stake in Jet Airways, which was announced over a year ago, Hogan says the company is invested in Jet for the long term. "This is the first FDI in India (in aviation) and, of course, it will go through a process and we accept that," he said, talking about the Rs 2,060 crore deal.
"What India does have is 40 million travelling international every year, growing at 10 per cent," he said explaining the importance of India for the airline.
Further, the airline is going to expand its network within the country as well. Hogan said that from 10 cities currently, the airline would expand to 26 cities within four months, creating a network bridge within the country.
Dynamic market
India is a great market, it's a dynamic market.
However, the 10-year-old airline company, which has gone on an acquisition spree across the globe, thus expanding its network, denied having any interest in buying stake in any other Indian airline in the near future.
The company, which has placed orders for 10 Airbus 380s, will introduce the wide-bodied aircraft in India soon, Hogan said. However, India is likely to see the company's new Boeing 787 airplane earlier. Etihad has also order 71 Boeing 787s.
Etihad, on Sunday, unveiled new super-luxury classes to be introduced in its new A 380 plane, three of which will be delivered to the airline within this year.