Jet Airways board will meet on Wednesday to finalise the preferential allotment of 24% equity to Etihad Airways. The allotment may take place the same day, said a source familiar with the development.
The board will also finalise appointments of Etihad’s CEO James Hogan and Etihad’s CFO James Rigney on its board, the source added. Last week the two airlines received clearance from the Competition Commission of India paving the way for Gulf airline’s Rs 2060 crore investment in the Indian airline.
On Monday, Jet Airways promoter Naresh Goyal trimmed 7.89% stake held under Tail Winds Ltd worth Rs 211 crore in block deals. The stake sale is a precursor to the issue of 24% equity to Etihad Airways.
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