Another source said that apart from Mubadala, India's sovereign fund NIIF could also come in to buy a minority stake in Jet.
Etihad Airways may bring in Mubadala Investment Company, Abu Dhabi's sovereign wealth fund, as its strategic partner to invest in Jet Airways.
The strategic partner may hold up to 20 percent in the Indian airline.
This will be up for discussion at a crucial meeting of Etihad Airways, Hinduja Group and SBI - the lead lender of Jet - in Mumbai on May 29.
"Etihad wants to have a stake of 24.9 percent in Jet Airways and the Hindujas want 20 percent," a senior executive from the industry told Moneycontrol.
Another executive said that apart from Mubadala, India's sovereign fund NIIF could also come in to buy a minority stake in Jet.
The Indian airline had suspended operations on April 17.
Founded in 2017, Mubadala Investment Company is the investment vehicle of the Abu Dhabi government and has assets of over $350 billion.Etihad continues to work directly with key stakeholders in India to help find a solution which would ensure Jet’s return as a viable and competitive Indian airline as it has been doing consistently for the past 15 months.