NEW DELHI, Feb 27 (Reuters) - Shares in Jet Airways
surged as much as 19.7 percent on Wednesday after TV channel ET
Now reported Etihad Airways is close to a deal to purchase a 24
percent stake in the Indian carrier, citing unidentified
ET Now reported Abu Dhabi's Etihad has already paid a
"token" amount of $70 million, and will likely pay $400 million
in the first tranche of the deal, the channel reported.
Jet shares were up 17.8 percent as of 0749 GMT.
(Reporting by Anurag Kotoky; Editing by Rafael Nam)