Etihad Airways is close to buying a 24 percent stake in India's Jet Airways in a deal worth $400m, it was reported on Saturday.
The possible deal for India’s second largest carrier would give Jet Airways a valuation of around $1.7bn, investment website VCCircle.com said.
Jet Airways shares touched a 52-week high on the bourses on Friday on the stake sale speculation.
“We do not have adequate information at this stage to comment on this issue,” a Jet Airways spokeswoman was quoted as saying.
In October, Etihad, Abu Dhabi's flag carrier which has expanded globally through stake purchases in firms like Air Berlin and Virgin Australia, said it was looking to extend its geographical reach to India and other Asian markets.
24/11/12 Andy Sambidge/Arabian Business.com
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The possible deal for India’s second largest carrier would give Jet Airways a valuation of around $1.7bn, investment website VCCircle.com said.
Jet Airways shares touched a 52-week high on the bourses on Friday on the stake sale speculation.
“We do not have adequate information at this stage to comment on this issue,” a Jet Airways spokeswoman was quoted as saying.
In October, Etihad, Abu Dhabi's flag carrier which has expanded globally through stake purchases in firms like Air Berlin and Virgin Australia, said it was looking to extend its geographical reach to India and other Asian markets.
24/11/12 Andy Sambidge/Arabian Business.com
