Jet Airways gains for second day on reports of stake sale to Etihad
MUMBAI (Reuters) - Shares in India's Jet Airways (JET.NS) rose over 7 percent in early trade on reports that it may sell stake to Etihad Airways.
The Business Standard newspaper reported, citing a government official, that Jet might raise 16 billion rupees ($292.64 million) from the sale of 24 percent stake to Etihad Airways. link.reuters.com/jyn44t
Etihad's chief executive officer said on Tuesday the Abu Dhabi-based airline was in talks with Indian airlines.
"We're involved in negotiations in India," James Hogan said in an interview broadcast on Bloomberg-UTV news channel. He declined to give details.
Jet Airways has risen 65.3 percent since the start of November, as of Monday's close, on speculation that promoter shareholder is looking to sell a stake.
Shares in other carriers such as SpiceJet (SPJT.BO) rose 4 percent, while Kingfisher Airlines (KING.NS) gained 3 percent.
($1 = 54.6750 Indian rupees)
(Reporting by Abhishek Vishnoi; Editing by Jijo Jacob)
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- U.S. Secret Service investigates after man jumps White House fence, reaches doors
- French jets strike in Iraq, expanding U.S.-led campaign against Islamic State |
- Alice, steampunk and a false name: enigma of an American jailed in North Korea
- North Korea says imprisoned American tried to become 'second Snowden'