Jet Airways shares rise on Etihad deal hopes
Reuters: Mumbai, Jan 25 2013, 13:06 IST
Shares of Jet Airways Ltd gained 5 per cent on continuing speculation that Abu Dhabi's Etihad Airways will buy a stake in the carrier, the first such investment by a foreign carrier in an Indian airline since rules were relaxed last year.
Etihad will finalise a deal to buy a stake in India's Jet Airways on Friday, a news report said.
The Gulf carrier could pay up to $330 million for a 24 percent stake in Jet, India's second-biggest carrier, a senior government source told Reuters earlier this month.
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