Abu Dhabi's Etihad Airways, close to a tie-up with India's Jet Airways , expects to complete due diligence on the deal in the next week, the Gulf carrier's chief executive said on Monday.
Abu Dhabi's Etihad Airways, close to a tie-up with India's Jet Airways
James Hogan made the remarks at a press conference after the airline reported its annual results, adding that the results would then be presented to the board.
Hogan said he had met with senior aviation officials and ministers in India last week in connection with the deal.
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 October 13, 2015, Jet Airways closed at Rs 369.70, up Rs 40.35, or 12.25 percent. The 52-week high of the share was Rs 543.50 and the 52-week low was Rs 220.35.
The latest book value of the company is Rs -387.83 per share. At current value, the price-to-book value of the company was -0.95.
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