Shares of Jet Airways surge amid share-sell talks


Business, Companies

The scrip rose 3.35 per cent to Rs 582.85 apiece amid reports that Jet Airways may sell up to 24 per cent of its shares in the company.

According to report, Jet Airways might be selling up to 24 per cent of its shares in the airline to Delta Air Lines.

New Delhi: Shares of Jet Airways on Monday surged over 3 per cent amid reports that the carrier was in exploratory talks to sell stake to Delta Air Lines.

The scrip rose 3.35 per cent to Rs 582.85 apiece. According to reports, Jet Airways is in exploratory talks with Delta to sell up to 24 per cent stake in the airline.

In response to a clarification sought by the exchanges, the airline neither confirmed nor denied the reports. "We are committed to make appropriate disclosures in accordance with applicable regulations to avoid any speculative activities and state that there is no discussion or decision in the board which would require disclosure under Regulation 30 of Sebi (Listing Obligations and Listing Requirements) Regulations, 2015," it said in a filing.

Middle East carrier Etihad is a strategic partner of Jet Airways with a 24 per cent stake. When contacted, a Jet Airways spokesperson said the airline does not comment on speculation. "As a listed entity, all material decision are taken by the company's board and duly conveyed at the appropriate time," he added.