Monday, July 03, 2017

Jet Airways may sell 24% stake to Delta, sources say; stock jumps around 4%

Jet Airways is likely in talks with American airlines company Delta to sell up to 24 percent of its stake.

Sources privy to the development tell CNBC-TV18 that the stake sale will happen likely via issue of fresh equity in order to infuse fresh funds in Jet Airways.

Jet plans to raise around Rs 2,000 crore from this stake sale.

For this stake sale to go through, Jet Airway's will require Etihad's nod and post the sale Etihad may infuse funds to maintain its stake at 24 percent.