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Jet Airways flies 4% higher on reports of capital infusion by Etihad

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NEW DELHI: Shares of Jet Airways (India) jumped nearly 4 per cent in the morning trade on Friday after media reports suggested Etihad Airways has offered to finance as much as $200 million to Jet Airways to keep the airline operational.

Cash-crunched Jet Airways has sought $350 million in soft loans from its investment partner Etihad Airways, as it continues to hold discussions with the latter to offload additional stake in the carrier, ET reported.

Meanwhile, the airline's management on Thursday said it will clear all the salary dues of its employees by April of next year. With three back-to-back quarterly losses and a net debt of Rs 8,052 crore as on September 30, the airline is working on ways to raise funds and reduce costs.

Shares of the company traded 1.74 per cent up at Rs 283.05 around 10:05 am.

The BSE Sensex was 0.45 per cent up at 35,472 at that time.




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