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Etihad Airways expected to acquire upto24% stake in Jet Airways, according to reports.
Reports said that the two airline may strike an agreement after months of negotiations.
Jet Airways promoter Naresh Goyal and Etihad Airways CEO James Hogan met Civil Aviation Minister Ajit Singh and discussed their plans for an alliance. Hogan also met Commerce Minister Anand Sharma.
The deal may be valued the Indian carrier at $1.2 bn, or 63.80bn, which is 19% higher than the current market cap of 5,371 crore.
India Infoline News Service / 14:51, Aug 19, 2014
Q1 revenues declined 0.9% qoq vs our estimate for a 1.8% qoq on the back of weakness in global operations whose revenues declined 14.9% qoq and 5.1% yoy.