Jet Airways may cede reins to Etihad, puts Tatas' proposal on back burner

Abu Dhabi-based airline may also bring in an Indian entity to invest in the troubled carrier

Naresh Goyal-run Jet Airways is said to have agreed to give up its controlling stake, paving the way for Abu Dhabi-based Etihad Airways to increase its holding in the troubled Indian airline up to 49 per cent — the maximum permissible limit for a foreign entity.

At present, Etihad owns 24 per cent of Jet Airways, while Goyal holds a 51 per cent stake.

According to sources, founder and chairman Goyal, who has been reluctant to give up control, is now preferring Etihad’s offer to the ones being discussed with Tata Sons and other private equity funds.

“He has agreed to give up