No question of diluting stake in Jet, says Goyal

Currently, Etihad has 24% shareholding in Jet Airways

Jet Airways chairman Naresh Goyal on Thursday asserted that he would not reduce his 51 per cent stake under "any circumstances". Goyal met Civil Aviation Secretary R N Choubey amid reports that Abu Dhabi-based Etihad Airways is looking to hike its stake in Jet Airways.

Currently, Etihad has 24 per cent shareholding in Jet Airways. After the meeting, Goyal said he does not plan to reduce his 51 per cent stake in the carrier "under any circumstances".

Sources said various operational issues related to Jet, including possible capital infusion, were discussed during the meeting.

On Wednesday, Jet had termed media reports about Etihad approaching the government to raise stake in the carrier as "entirely incorrect".

In the quarter ended March, Jet saw its net loss narrow to Rs 1,729 crore, aided by lower expenses, fall in aviation fuel costs and higher income from operations. The carrier, which has completed the first year of its strategic alliance with Etihad, had a net loss of Rs 2,514 crore in the quarter ended March 2014.