Etihad Airways needs to revise its deal to buy a stake in India's Jet Airways and it is too soon to say when a final agreement will be struck, the Abu Dhabi airline's chairman told Reuters on Sunday.
Etihad Airways needs to revise its deal to buy a stake in India's Jet Airways
Also read: Jet may rally 20% post Etihad deal; no hopes for KFASheikh Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet with Indian Trade Minister Anand Sharma to discuss the matter.
When asked if a Jet deal would be signed by March or April, Sheikh Hamed said: "I don't know....we need to revise it."
The terms of the possible deal have not been disclosed, but a government source said earlier this month Etihad was in talks to pick up a 24-percent stake in Jet for up to USD 330 million.
Jet Airways stock price
On April 17, 2015, Jet Airways closed at Rs 449.75, down Rs 6.6, or 1.45 percent. The 52-week high of the share was Rs 543.50 and the 52-week low was Rs 203.50.
The latest book value of the company is Rs -223.87 per share. At current value, the price-to-book value of the company was -2.01.
READ MORE ON Etihad Airways, Jet Airways, Abu Dhabi airline, Sheikh Hamed bin Zayed al-Nahayan, UAE capital, Indian Trade Minister Anand Sharma
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