Talks to revive grounded Indian airline Jet Airways, which ceased all operations last month including its routes to London and Manchester, have reportedly stalled.
India’s Business Standard reports Jet stakeholders, which include Etihad, Hinduja Group and State Bank of India (SBI), failed to make headway on a potential joint ownership agreement during a meeting at Etihad’s Abu Dhabi headquarters on Thursday (23 May).
Etihad owns a 24% stake in Jet, while SBI is understood to have picked up a controlling stake when its long-standing chairman Naresh Goyal stood down in March.
Hinduja Group, though, Indian newspaper Business Standard reports, is unwilling to take more than a 20% stake.
It remains unclear whether the talks will seek to revive all Jet Airways’ operations, or just its domestic network in India.
Jet, which insists suspension of its operations is "temporary", pulled its Manchester-Mumbai service in March.
It subsequently suspended its entire international programme in April, including its Heathrow-Mumbai and Heathrow-Delhi services.
Jet’s codeshare partners have now started taking over some of its routes.
Virgin Atlantic announced a new daily Heathrow-Mumbai service on Wednesday (21 May), launching 27 October.
KLM, meanwhile, will introduce a three-times weekly Amsterdam-Bangalore service, another route previously operated by Jet.