Jet stock flies on reports of deal with Etihad

Shares of Jet Airways jumped by 5.5 per cent on the BSE, as media reports hinted that the airliner is the front-runner for an investment by Gulf carrier Etihad Airways. The report further added that deal is likely to get completed in ten days.

The shares of Jet Airways were last traded at Rs 612. The stock has been rallying ever since reports have surfaced over a deal with the Abu Dhabi based Etihad Airways.

Kingfisher Airlines has also been linked to a deal with Etihad and it would be a wait and watch to see in which Airline Etihad shows interest.

In any case both the carriers are heavily debt ridden and the aviation sector has not been performing too well. High aviation turbine fuel and cost excalations have effected the performance of most of the domestic airlines.

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