Monday, April 29, 2013

Jet Airways shares up as founder firm plans share sale

April 30, 2013

Jet Airways shares rose as much as 2.59 per cent a day after a founder group company of the carrier said it would sell a stake as part of public float rules.

Tail Winds, which owned almost 80 per cent of Jet before the deal, will sell shares to Naresh Goyal and other investors to comply with a rule that requires companies to have a minimum 25 per cent public shareholding.

Abu Dhabi\'s Etihad Airways agreed last week to acquire a 24 per cent stake in India\'s No. 1 carrier, giving it a bigger foothold in the fast-growing aviation market.
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