Jet Airways down 2% on doubts over Etihad deal

Shares of Jet Airways today tanked more than 3 percent amid investor concerns whether its stake-sale deal with Abu-Dhabi based carrier Etihad would materialise.

FP Archives|Dec 21, 2014, 01:47:56 IST

Mumbai: Shares of Jet Airways today tanked more than 3 percent amid investor concerns whether its stake-sale deal with Abu-Dhabi based carrier Etihad would materialise.

[caption id="attachment_638263" align="alignleft" width="380"] Reuters

According to media reports, fresh hurdles have come up in the Jet-Etihad deal. Reuters[/caption]

According to media reports, fresh hurdles have come up in the Jet-Etihad deal. There were also reports that the UAE-based carrier was seeking to revise a proposed deal with the Indian carrier. Jet shares opened weaker and lost further ground to touch a low of Rs 511.55 on the BSE, down 2.99 percent from its last closing price.

On the National Stock Exchange as well, the stock opened at Rs 522 and touched intra-day low of Rs 510.25, down 3.38 percent from its previous closing price. Etihad has said the deal is being revised and might take some time to conclude. It is reported to be buying 24 percent equity in Jet Airways for about Rs 1,800 crore.

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