Jet Airways rises on reports of stake sale to Etihad

MUMBAI Tue Dec 4, 2012 9:42am IST

A Jet Airways Boeing 737-800 aircraft takes off from the Chhatrapati Shivaji international airport in Mumbai November 26, 2012. REUTERS/Danish Siddiqui

A Jet Airways Boeing 737-800 aircraft takes off from the Chhatrapati Shivaji international airport in Mumbai November 26, 2012.

Credit: Reuters/Danish Siddiqui

Related Topics

Stocks

   

MUMBAI (Reuters) - Shares in 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 from the sale of 24 percent stake to Etihad Airways.

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.

(Reporting by Abhishek Vishnoi; Editing by Jijo Jacob)

FILED UNDER:

Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage