For around ten years, there was a legal battle over Etihad Airways' 24 percent stake in Jet Airways. In April 2023, BJP chairman Subramanian Swamy brought a lawsuit aimed at preventing the golf carrier from entering the market. An agreement has now been reached, as the appeal has been withdrawn.
Some time ago, Etihad Airways pursued a hunter strategy that was strongly reminiscent of Swissair. They bought into other airlines with minority interests and wanted to build up their own aviation alliance. However, with a few exceptions, these were financially troubled carriers who had high financial needs. The change in strategy meant that Jet Airways, Air Berlin, Alitalia and other holdings had to file for bankruptcy.
The legal dispute that has now been settled was directed against the sale of around 24 percent to Etihad Airways. The plaintiff raised serious allegations against the golf carrier, but he now quietly withdrew his lawsuit. As a result, the court proceedings ended without a verdict. The background may also be that Jet Airways has meanwhile gone bankrupt and the restart with the help of a new investor has stalled.
The legal dispute has been going through all instances of the Indian legal system since 2013 and is now pending before the Supreme Court. On January 7, 2023, the plaintiff surprised the court by withdrawing his lawsuit. The lawsuit was thus formally dismissed as withdrawn and the proceedings ended.