Jet Airways shares tanked more than 7 per cent on the bourses on Monday amid reports that
Abu Dhabi-based Etihad Airways is likely to revise its deal to buy a stake in the Indian carrier.
Etihad is likely to
buy 24 per cent equity in Jet Airways valued at about Rs 1,800 crore. If the deal is carried through, it would be the first investment by a foreign carrier in an Indian airline.
According to recent reports, Etihad Airways chairman Sheikh Hamed bin Zayed al-Nahayan has said the
Abu Dhabi-based carrier needs to revise its deal to buy a stake in Jet Airways and that it was too soon to say when a final agreement between the two carriers would be struck.
Reacting to the news,
shares of Jet Airways opened on a weak note, trading under pressure through the day before closing at Rs 570.75 - down 7.7 per cent from the previous close on the Bombay Stock Exchange.
On the National Stock Exchange too, the scrip fell 7.65 per cent to Rs 570.70.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Special 
