Jet Airways Surges on Hopes of Etihad Stake Sale; Kingfisher Shares Down
December 17, 2012 5:52 PM EST
Shares of Jet Airways (JET.NS) jumped as much as 4.7 percent on Monday to their highest in nearly two years on hopes Abu Dhabi's Etihad Airways will buy a stake in the carrier.
Mint Newspaper reported on Monday that Etihad may decide as early as this week whether it will invest in Jet Airways or in grounded rival Kingfisher Airlines (KING.NS), citing two people familiar with the matter.
Mint also quoted one of the people as saying Jet Airways had the edge in terms of attracting Etihad's investment.
Jet and Kingfisher declined to comment. Etihad officials were not immediately available to comment.
Jet is already in talks with Etihad to sell a minority stake in the airline, a government official had told Reuters last month, while Kingfisher has said it was also talking with the Abu Dhabi-based carrier, among others.
Any Etihad deal would be the first since India in September allowed foreign airlines to invest up to 49 percent in a domestic carrier.
Jet Airways shares had gained 4 percent as of 0605 GMT to the highest level since January 2011 after surging 18 percent over the prior four sessions.
By contrast, Kingfisher shares fell 2 percent, snapping nine previous consecutive sessions of gains.
Most Popular Slideshows
- Gennady Golovkin Next Fight Options: Canelo Alvarez, Miguel Cotto Or Julio Cesar Chavez Jr.
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
Join the Conversation
- Travel Alert: Over 200 Canadians Infected with Mosquito-Borne Chikungunya Virus
- Economic Growth In US And Sub-Saharan Africa Allay 2015 Recession Fears
- US Dedicates 5 Airports for Travellers From Ebola-Stricken Nations, Lawmakers Want Travel Ban
- Canadian Ebola Drug: Tekmira Firm Starts Limited Manufacturing of Vaccine, Available By December; Shares Up
- WHO Races to Release Ebola Serum in 2 Weeks, Vaccines in January
- No Mercy: ISIS, Father Stones to Death Daughter for Alleged Adultery
- Boy Stoned To Death For Alleged Rape, Victim Receives Dowry From Militants
- ASUS Releases A Teaser Indicating The Arrival of New Zenfone and ZenWatch On October 28
- Russia is Creating Underwater Combat Robots to Protect its Arctic Territories
- iOS 8 Jailbreak Release Date is Doomed as Team Evad3rs Opts Out, Pangu Hits Snag – Report
- Google Nexus 6 vs. iPhone 5S: 4 Important Things to Consider Before Switching to Android Lollipop
- Swedish Military Spots ‘Russian Submarine’ Off Stockholm Coast, An Alarming ‘Security Game Changer’