Unconfirmed reports had then said Goyal had also invested some money in the Gulf carrier.
A major reason for Goyal proposing to dilute part of his shareholding in Jet from 80 percent has been a recent order of the Foreign Investment Promotion Board (FIPB) to bring it down to the regulatory levels.
Jet and Etihad already have a code-sharing agreement. "This deal will be profitable to both. Jet can gain larger market share, while Etihad will get a major exposure in India and also strengthen its position in West Asia," an aviation analyst said.
Stocks More on Jet Airways
Company INFO More on Jet Airways