Jet Airways says in talks with various investors amid reports of seeking Etihad support

By: | Published: November 21, 2018 11:24 PM

Jet Airways said Wednesday it continues to be in active discussions with various investors, amid reports that its founder Naresh Goyal is in talks with Etihad for financial support.

Jet Airways, Jet Airways investors, Etihad, Naresh Goyal, financial support, industry newsEtihad holds 24 per cent stake in Jet Airways. (Reuters)

Jet Airways said Wednesday it continues to be in active discussions with various investors, amid reports that its founder Naresh Goyal is in talks with Etihad for financial support. The response came after the BSE sought a clarification on the news report that ‘Naresh Goyal and Etihad discussing merger of Jet Privilege and Jet Airways. Naresh Goyal in Abu Dhabi in talks with Etihad for financial support’. Terming such reports as “speculative in nature”, the airline said it is committed to make appropriate disclosures in accordance with applicable regulations to avoid any speculative activities.

“The company continues to be in active discussions with various investors to secure sustainable financing to navigate through the current headwinds and create long term growth,” Jet Airways said in a filing to the BSE. Etihad holds 24 per cent stake in Jet Airways. Jet Airways, which is battling financial woes, also told the exchange that there are no discussions or decisions by its board that would require disclosure under Sebi norms. Shares of the airline rose nearly 3 per cent to close at Rs 318.60 on the BSE.

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