Jet up on reports Etihad may buy some stake from owners

Last Updated: Fri, Mar 08, 2013 09:54 hrs
Jet Airways aircraft stand on tarmac at the domestic airport terminal in Mumbai

Shares in India's Jet Airways extended gains to more than 13 percent on Friday, after CNBC TV18 reported that Abu Dhabi's Etihad Airways may buy a 10-12 percent stake in the company directly from promoters.

Etihad may pay as much as 750 rupees ($13.75) a share for the stake, the report said.

Etihad has been in talks with Jet to buy a 24 percent stake, government sources have told Reuters.

The channel said Etihad may buy the remaining stake by issuing preferential shares.

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