- Jet Airways shares rise as Etihad said to raise stake to 49% Livemint
- Etihad conditions cloud Jet Airways rescue mission Economic Times
- Etihad Agrees to Raise Stake in India's Jet to 49%, Report Says BloombergQuint
- Jet Airways rallies 7% on likely finalisation of resolution plan Moneycontrol.com
- Etihad to raise stake in Jet to 49%; founder to give up control: Report Business Standard
- View full coverage on Google News
BTVI television reported the Etihad stake purchase, while CNBC-TV18 said Naresh Goyal’s stake could drop to as low as 20% from 51%
Banks have refused any liquidity assistance for Jet until it gets equity funding from existing shareholders.
Etihad Airways PJSC has agreed to raise its stake in Jet Airways India Ltd. to 49 percent as founder and chairman Naresh Goyal gives up majority control of the carrier, potentially paving the way for the rescue of the cash-starved company, according to television reports.
Naresh Kumar Goyal held 51 percent equity stake in Jet Airways and Etihad Airways PJSC 24 percent, as per latest shareholding pattern available on the BSE.
Read more about Etihad to raise stake in Jet to 49%; founder to give up control: Report on Business Standard. Jet Airways, once India's No 2 airline, has been seeking funds from investors