Jet stock up on deal hopes with Etihad

Etihad could land up paying upto $330 million for a 24% stake in Jet

The stock of Jet Airways was up 4% today amid speculation that a deal with Etihad Airways would be finalised today. If the deal happens it will be the first such investment by a foreign airline in an Indian carrier since rules were relaxed last year.

The Abu-Dhabi-based Etihad could land up paying upto $330 million (or nearly Rs 1,700-1,800 crore) for a 24% stake in Jet, media reports had said earlier.

Etihad is believed to have been talking to both Jet and Kingfisher before finally deciding on the Naresh-Goyal-promoted airline, which is the number two carrier in the country after Indigo Airlines.