Etihad Airways has reportedly set its sights on the Indian aviation market, with reports that the carrier is close to buying nearly 24 percent of Jet Airways.

Confirming the arrangement, a top civil aviation ministry functionary said the two airlines have been in talks for months and expects the deal to be concluded within 45 days, Business Standard reported.

Although Jet Airways said it did not have “adequate information” to comment, Etihad chief executive James Hogan said earlier this year the airline saw “opportunity” in Asia and India.

Etihad has already made its mark across the Asia-Pacific this year, purchasing a ten percent stake in Virgin Australia.