India's Jet surges on Etihad deal approval talk
Mumbai, July 26, 2013
Shares in Jet Airways India Ltd surged as much as 19.7 percent on Friday after traders said India's 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 India's 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.
Jet shares were up 14.6 percent at 0459 GMT, well above the 0.2 percent gain in the broader NSE index. – Reuters
More Travel, Tourism & Hospitality Stories
- Malaysian flight 'presumed crashed' over China
- Qatar Airways likely to buy more A380s
- Malaysia Airlines jet goes missing over China
- Etihad in move to clear flights backlog
- Tourism industry emerges from downturn
- Airbus orders more frequent A380 checks
- Dubai Mall stand offers air safety tips
- Elaf Group plans new hotel in Makkah
- UPDATE: Abu Dhabi airport starts operation
- Qatar Airways mulls options on 3 extra A380s
- RAK features 9 travel firms at ITB Berlin
- Etihad names Patrick Vieira guest ambassador
- Lufthansa to offer Premium Economy Class
- Ras Al Khaimah TDA appoints new CEO
- Abu Dhabi flights hit by 'technical failure'
- Egypt urges Germany to ease travel advisory
- Qatar Airways to get 3 A380s in June
- Paramount eyes expansion in region
- All EU citizens exempt from pre-entry UAE visas
- Sofitel to open in Downtown Dubai
- Women’s role in aviation focus for summit
- Turkish, Singapore Airlines expand codeshare
- Global air passenger traffic up 7.8pc in Jan
- Hilton to open 41-storey hotel in Pearl-Qatar
- Graffiti area at the Great Wall
- Dubai hotels welcome 11m guests
- Wyndham signs for 4th hotel in Turkey
- Mideast carriers top global air freight growth
- IFA Hotels unveils fresh brand identity
- Turkish Airlines launches Rotterdam flights