Jet Airways rallies nearly 8% as Etihad extends deal deadline
Posted By: Religare
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Shares of Naresh Goyal led Jet Airways gained as much as 7.8 per cent in the morning trade on Bombay Stock Exchange (BSE) on the media reports that Abu-Dhabi based Etihad Airways extended the deadline for the deal to acquire 24 per cent stake in the Indian carrier, hoping that Indian authorities will provide all the clearances soon.
At 11:00 hours, shares of Jet Airways were trading at Rs 306 a piece, up 4.85 per cent from previous close on BSE.
This is the second time that deadline has been extended for the deal that would be the first by an overseas operator in an Indian airline government relaxed FDI norms.