India's competition regulator has approved Etihad's $325 million deal to buy a 24-percent stake in Jet Airways, the regulator said on its website on Tuesday.

Jet said last month it expected to complete the transaction this quarter. It already has the Indian cabinet's approval.

"...the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the same...," the Competition Commission of India said on its website.