MUMBAI Dec 4 Shares in India's Jet Airways
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
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 rose 4
percent, while Kingfisher Airlines gained 3 percent.
($1 = 54.6750 Indian rupees)
(Reporting by Abhishek Vishnoi; Editing by Jijo Jacob)