Shares in Jet Airways fell as much as 6.8 percent on Monday, a day after the chairman of Etihad Airways said the Abu Dhabi-based carrier needed to revise the terms of a pending deal to buy a stake in the Indian airline.
Etihad Chairman Sheikh Hamed bin Zayed al-Nahayan told Reuters on Sunday it was too soon to say when a final agreement between the two carriers would be struck.
The deal would be the first since India relaxed ownership rules in September and allowed foreign carriers to buy up to 49 percent in local carriers, which are battling stiff competition and high operating costs.
Jet shares have more than doubled in value in the past 10 months to reach a high of 647.80 rupees on Jan. 28. But in the past three weeks they have slumped as much as 11 percent as the companies struggled to seal an agreement.
Read more: http://www.arabianbusiness.com/india-s-jet-shares-plunge-on-etihad-deal-delay-490017.html
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