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Jet Airways shares surge over 7% on report of stake sale

Stock up on reports that the carrier may seek regulatory approval to tweak its ownership pattern
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First Published: Mon, Dec 03 2012. 12 30 PM IST
The gains on Monday come on the back of a 57% rise in the carrier’s shares in November on speculation over a deal with Etihad Airways. Photo: Abhijit Bhatlekar/Mint
The gains on Monday come on the back of a 57% rise in the carrier’s shares in November on speculation over a deal with Etihad Airways. Photo: Abhijit Bhatlekar/Mint
Mumbai: Shares in Jet Airways (India) Ltd rose over 7% on a report in Mint newspaper that the airline will soon seek regulatory approval to tweak its ownership pattern to facilitate a stake sale to Etihad Airways.
The gains on Monday come on the back of a 57% rise in the carrier’s shares in November on speculation over a deal with Etihad Airways.
Rival SpiceJet Ltd shares were also up 6%.
Jet Airways and SpiceJet, battling hot competition and high operating costs, are in talks to sell minority stakes to foreign investors, said a senior Indian government official with knowledge of the discussions.
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First Published: Mon, Dec 03 2012. 12 30 PM IST
More Topics: Jet Airways | stock | Etihad Airways | SpiceJet |
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