Jet shares soar on possible deal closure

Shares of Jet Airways India Ltd gained as much as 12.8% in Friday trade on rumours that the airline will clear the last regulatory hurdle holding up its deal with Etihad Airways PJSC.

The stock is the biggest gainer in the BSE200 Index and saw its biggest intra-day gain since 26 July.

Jet Airways, the country’s second largest airline by passengers carried, wants to sell a 24% stake to Etihad and is waiting for final clearance from the Cabinet Committee on Economic Affairs (CCEA).

On 29 July, the Foreign Investment Promotion Board (FIPB) conditionally allowed the deal. 

Mumbai-based Jet Airways is set to become the first beneficiary of a policy change that allowed foreign airlines to invest in domestic ones.

Full report here Mint 


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