Jet Airways (India) Ltd. (JETIN) is in talks to sell a stake to Etihad Airways, and SpiceJet Ltd. (SJET) is having similar discussions with AirAsia Bhd. (AIRA), a government official said, as India’s two largest listed carriers seek funds following a change in investment rules.
Jet Air may conclude a deal to sell a minority stake to Abu Dhabi’s Etihad in 45 days, said the official, who asked not to be identified citing rules. Discount carrier SpiceJet’s talks with AirAsia, the region’s biggest budget carrier, are at an early stage, the official told reporters today.
The two Indian airlines surged in Mumbai trading on speculation new investment may help them cut debts and pay for expansion. Kingfisher Airlines Ltd. (KAIR), which grounded flights last month amid a cash crunch, is also seeking to sell a stake after losses caused by high fuel taxes and price wars.
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