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Last Updated : Jul 03, 2017 04:42 PM IST | Source: Moneycontrol.com

Jet Airways may sell 24% stake to Delta, sources say; stock jumps around 4%

Sources tell CNBC-TV18 that Jet Airways may sell 24 percent of its stake to Delta.

Jet Airways is likely in talks with American airlines company Delta to sell up to 24 percent of its stake.

Sources privy to the development tell CNBC-TV18 that the stake sale will happen likely via issue of fresh equity in order to infuse fresh funds in Jet Airways.

Jet plans to raise around Rs 2,000 crore from this stake sale.

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For this stake sale to go through, Jet Airway's will require Etihad's nod and post the sale Etihad may infuse funds to maintain its stake at 24 percent.

Responding to the channels query, Jet Airways said that it will not comment on speculation. There was no response from Delta to CNBC-TV18's email query.

Post the newsbreak Jet airways stock rallied close to 4 percent and is currently trading at levels of Rs 582 per share.

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First Published on Jul 3, 2017 03:37 pm
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