Business Standard

Jet Airways fall on brewing concerns over Etihad deal

Etihad Airways eyes higher stake in the local carrier along with a host of other new conditions.

Related News

Ltd, country's biggest aviation firm, dropped over 4% in early trades this Friday after the Abu Dhabi-based put a host of new conditions including an option to buy up to 49 per cent stake in the firm.

Sources close to the deal say, besides a higher stake (earlier, the negotiations were on for sale of up to 24 per cent), Etihad has asked for its representation on the board of the Indian airline, in sync with its shareholding. It wants operational control over the airline, as well as its fleet acquisition plans. The West Asian carrier has also sought protection under a Bilateral Investment Promotion and Protection Agreement (Bipa), arguing it does not want to face a situation similar to what telecom giant Etisalat faced.

At present, Goyal holds 80 per cent in Jet Airways — 79.99 per cent through Tailwinds Ltd, a firm based in the Isle of Mann, and 0.01 per cent directly. The remaining shares are held by the public and FIIs.

At 10AM, shares of Jet Airways fell 4.1% to Rs 537.05 at the National Stock Exchange.

Read more on:   
|
|
|

Read More

HDFC tumbles after Goldman Sachs downgrade to 'sell'

HDFC tumbles after Goldman Sachs downgrade to 'sell'

Quick Links

 

Market News

In which sectors do FIIs have the most leg room to invest?

Oil & Gas tops the list

Oil prices up on Ukraine tensions, rosy US data

The United States warned it was considering new sanctions against Russia over the latest development

Markets closed on account of Ganesh Chaturthi

The government will release GDP data for the first quarter later today

Sensex rises 47% since 52-week low

Improvement in earnings, govt policies could provide more legs to the rally that started a year ago

Axis Bank, Maruti Suzuki, L&T scrips more than double in a year

While the benchmark index has moved up 48% between 29 August 2013 till date; Axis Bank, Maruti Suzuki and Larsen and Toubro (L&T) have ...

Back to Top