Jet-Etihad deal cleared by fair trade regulator

Paving way for closure of the long-pending Jet-Etihad deal, the Competition Commission of India on Tuesday approved the proposed acquisition of 24% stake in Jet Airways by Abu Dhabi-based Etihad airline for Rs 2,058 crore. The clearance by CCI was among the last regulatory approvals for this deal, which is the first-ever foreign direct investment (FDI) in an Indian carrier.