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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared
People walk in the Wipro campus in Bangalore June 23, 2009. REUTERS/Punit Paranjpe/Files

Wipro Q4 net profit beats estimates, rises 29 percent

Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier.  Full Article | Full Coverage 

REUTERS SHOWCASE

Election 2014

Election 2014

India holds biggest day of voting with BJP gaining strength  Read | Full Coverage 

Market Eye

Market Eye

Sensex jumps 351 points, snaps 3-day losing streak  Full Article 

Insider Trading Case

Insider Trading Case

Ex-Goldman director Rajat Gupta to surrender June 17 in insider case.  Full Article 

Expansion Plans

Expansion Plans

Reliance Industries, HPCL Mittal plan refinery expansions.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Deal Talk

Deal Talk

Piramal to buy 20 percent stake in Shriram Capital for $334 million.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

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