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Jet Airways shares fall on Etihad deal fears

Feb 25 2013, 13:13 IST
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Shares in Jet Airways Ltd fall as much as 3.4 percent, hitting their lowest since December 4. (Reuters) Shares in Jet Airways Ltd fall as much as 3.4 percent, hitting their lowest since December 4. (Reuters)
SummaryShares in Jet Airways Ltd fall as much as 3.4 percent, hitting their lowest since December 4.

Jet Airways' shares today tanked more than 3 per cent amid investor concerns whether its stake-sale deal with Abu-Dhabi based carrier Etihad would materialise.

According to media reports, fresh hurdles have come up in the Jet-Etihad deal. There were also reports that the UAE-based carrier was seeking to revise a proposed deal with the Indian carrier.

Jet shares opened weaker and lost further ground to touch a low of Rs 511.55 on the BSE, down 2.99 per cent from its last closing price.

On the National Stock Exchange as well, the stock opened at Rs 522 and touched intra-day low of Rs 510.25, down 3.38 per cent from its previous closing price.

Etihad has said the deal is being revised and might take some time to conclude. It is reported to be buying 24 per cent equity in Jet Airways for about Rs 1,800 crore.

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