MUMBAI -- When Etihad Airways first bailed out India's Jet Airways in 2013, the terms were less than ideal: a minority 24% stake, bought at a premium, and with management remaining firmly in the hands of founder and Chairman Naresh Goyal.
It was, according to analysts, a long-term bet on the fast-growing but fiercely competitive Indian market. Five years later, that bet may be closer to paying off as Etihad offers to bail out Jet Airways once again, this time on terms closer to its own choosing.
