Jet falls again as Etihad deal causes jitters

Stocks

oi-Sunil

By Sunil Fernandes

Published: Monday, February 25, 2013, 10:48 [IST]

Shares in Jet Airways fell again today after the sharp fall witnessed on Friday, as investors continued to fret over the company's deal with Etihad Airways.

The stock dropped almost 2 per cent again today, hitting the lowest level since February, as investors continued to worry over the Etihad deal.

Etihad Airways had a few days ago wanted a change in certain clauses before going ahead with the deal with Jet. According to reports Etihad wanted an option to increase its stake to 49 per cent in Jet Airways, but, the Jet Airways Chairman was not keen to include this clause.

Meanwhile, PTI reported that even as its senior executives are reported to be in Abu Dhabi to further negotiate with Etihad on the proposed stake sale to the Gulf carrier, Jet Air engineers are on a "go-slow" mode following the failure of talks over wage hike and arrears.

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