26-Nov-2012 10:42 AM

Jet Airways close to selling a 24% stake to Etihad Airways: report

Jet Airways is reportedly close to selling a 24% stake to Etihad Airways in a potential INR2.2 billion (USD400 million) agreement, according to a report from vccircle.com. The deal would give Jet Airways a post-money valuation of around USD1.7 billion, more than twice its current market cap. Jet Airways, as quoted by Live Mint, stated, “We do not have adequate information at this stage to comment on this issue”. Meanwhile, Etihad Airways stated: “Etihad Airways has identified equity investments in other airlines as an important evolution of our successful partnership strategy. Equity investment strengthens our relationships and allows us to work together with partners to identify revenue generation and cost management opportunities. It is our policy not to comment on such speculation. If or when we do make further investments of this sort, we will announce them in line with regulatory and commercial requirements".

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More