Permit allows motorists to legally drive their vehicles outside the Emirates without further tests and applications
Jet announced the plan to sell its shares to Etihad in April, taking advantage of a government move to open the aviation sector a year ago to allow international carriers to buy up to a 49 per cent stake in domestic operators.
Jet shares rose as much as 7.27 per cent in morning trade, and was later up 2.55 per cent at 396.45 rupees on the Bombay Stock Exchange.
The deal is worth $335 million, but its completion could be further delayed after the Supreme Court agreed to hear a public interest litigation against the acquisition, the Press Trust of India reported on Friday.
The deal has been regarded as a key test of India’s ability to attract foreign investors to its ailing airline sector.
Indian carriers need money to fund expansion and cut debt after years of losses caused by the fierce fare battles and rising fuel costs.
The aviation sector, once vaunted as a symbol of economic vibrancy, has also seen its fortunes fade in the face of a slowing economy, over-expansion and rundown infrastructure.
Only privately held low-cost carrier IndiGo was in profit in the year to March 2012, out of India’s six main scheduled carriers.
Kingfisher Airlines, controlled by liquor baron Vijay Mallya and once the second-biggest carrier, remains grounded and teetering on the edge of bankruptcy.
Permit allows motorists to legally drive their vehicles outside the Emirates without further tests and applications
Residents can also expect a slight increase in temperature today
Rumours suggest that even Nasa offers a similar service; however, Al Hariri has rejected such claims
Spinner Varun Chakravarthy stars as the Knight Riders booked the coveted spot with am18-run win over the former five-time champions in a rain-reduced match at Eden Gardens
Star India and Royal Challengers Bengaluru batter on cusp completing a century of centuries in professional cricket
The tally includes at least 28 deaths in the past 24 hours
The Ukrainian is regarded as the greatest ever amateur boxer having compiled an incredible 396-1 record and won consecutive golds at the 2008 and 2012 Olympics
Burnley join Sheffield United in making an instant return to the Championship after 2-1 loss at Tottenham as Luton on the brink