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Jet ends up 17 percent on talk FIPB to approve Etihad deal

Source : REUTERS
Last Updated: Fri, Jul 26, 2013 12:04 hrs
A newly acquired Jet Airways Boeing 777-300ER aircraft sits on the tarmac at Mumbai airport

Shares in Jet Airways ended up 17.4 on Friday after traders said the Foreign Investment Promotion Board was likely to approve a planned stake sale to Etihad Airways.

Jet Airways and Etihad Airways officials were not immediately reachable for comment on the market speculation. A spokesman for the finance ministry, which oversees FIPB, declined to comment.

The FIPB, which clears foreign direct investment proposals, is scheduled to consider the Jet-Etihad deal at its meeting on Monday and traders said it may be approved.

The FIPB last month deferred a decision on Jet's plan to sell a 24 percent stake to Etihad.


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