Jet Airways stock drops on reports of Etihad deal revision

Shares of the Jet Airways slipped more than 5% on Monday after the reports said that Eithad Airways chairman said that its deal needs to be revised to buy stake.

As per Reuters report, Etihad Chairman Sheikh Hamed bin Zayed al-Nahayan told Reuters that it was too soon to say when a final agreement between the two carriers would be struck.

Recently, Jet Airways reported net profit at Rs 85 crore in the third quarter of 2012-13 as against loss of Rs 101.2 crore in second quarter. Airlines reported good set of numbers despite higher fuel prices and rupee depreciation.

Shares of the company was seen treading lower by 6% at Rs 582 on BSE at 9.55 am IST. It touched an intra-day low of Rs 572.

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