Jet Airways selling stake to Etihad for Rs 2,060 crore

Fast-growing Etihad Airways is taking almost a quarter stake in Jet Airways (JET.NS), giving it a bigger foothold in the fast-growing Indian market. The $379 million investment is the first by an overseas operator in an Indian airline since ownership rules were relaxed and provides India's largest carrier with a deep-pocketed global partner as well as cash to retire debt.