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Abu Dhabi-based Etihad Airways has confirmed that the airline has concluded a transaction with Jet Airways to purchase the Indian carrier’s three pairs of Heathrow slots for $70 million.
The purchase is part of a sale and lease back agreement signed on February 26.
Jet Airways will continue to operate flights to London utilising these slots, a statement released by the carrier here said.
According to the statement, the deal further strengthens the existing commercial relationship, which came into effect in July, 2008, making provision for code-sharing between the two airlines.
As previously advised, Etihad Airways continues to progress discussions about further investment in Jet Airways.
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