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Business deals

Etihad aims to rescue Jet Airways amid trouble of its own

Mooted bailout could help both airlines as well as Indian lenders hit by bad debt

Etihad is offering to take a bigger stake in India's Jet Airways at a considerable discount. (Getty Images)

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.

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