Etihad to raise stake in cash-strapped Jet Airways: source | Reuters:
Etihad Airways, which owns 24 percent of debt-laden company Jet Airways (JET.NS), plans to increase its stake in the Indian airline, a source close to the Abu Dhabi carrier told Reuters on Monday.
Shares in India’s Jet Airways jumped over 18 percent on Monday after CNBC TV18 reported earlier on Monday that founder and chairman Naresh Goyal was likely to step down from the board and give up majority control. The report also said that Etihad may infuse more capital into Jet.
The source, who spoke on condition of anonymity, said Goyal was on his way out but did not clarify if that would mean he is stepping down as chairman or from the board.
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