New Delhi -°C
Today in New Delhi, India

Oct 19, 2019-Saturday
-°C

Humidity
-

Wind
-

Select city

Metro cities - Delhi, Mumbai, Chennai, Kolkata

Other cities - Noida, Gurgaon, Bengaluru, Hyderabad, Bhopal , Chandigarh , Dehradun, Indore, Jaipur, Lucknow, Patna, Ranchi

Saturday, Oct 19, 2019

Jet Airways gains nearly 20% after Etihad buys 24% stake

Shares in Jet Airways Ltd rose nearly 20%, its daily upper limit, in pre-open trade after Gulf carrier Etihad Airways said it is taking almost a quarter stake in Jet Airways at Rs. 754.74 per share, a 31.7% premium to Jet's closing share price on Tuesday.

business Updated: Apr 30, 2013 19:51 IST

Reuters
Hindustantimes
         

Shares in Jet Airways Ltd rose nearly 20%, its daily upper limit, in pre-open trade after Gulf carrier Etihad Airways said it is taking almost a quarter stake in Jet Airways at Rs. 754.74 per share, a 31.7% premium to Jet's closing share price on Tuesday.

Etihad will also invest an additional $150 million in Jet's frequent flyer programme and spend $70 million to buy Jet's three pairs of Heathrow slots through the sale and leaseback agreement announced in February.

The deal sets a valuation benchmark for further investment in Indian airlines, with budget carrier SpiceJet Ltd frequently the subject of stake sale reports.

Spicejet rose 13.6%, while Kingfisher Airlines Ltd gained 3.7%.

First Published: Apr 25, 2013 09:24 IST

top news