Jet Airways up 15% in two days amid reports Tata Group to buy 51% stake

Shares of Jet Airways (India) moved higher by 5% to Rs 264 on Tuesday, extending its Monday’s 10% surge on the BSE, after the media reports suggest that Tata Group is in talks to buy a majority stake in beleaguered carrier and its loyalty programme.

Tata Group aims to buy the 51% stake in the airline owned by Jet Airways founder, Naresh Goyal, and Etihad Airways’ 24% stake; the Reuters report suggested.

The BSE said that exchange has sought clarification from Jet Airways (India) with reference to news appeared in dated November 05, 2018 quoting “Jet Airways soars 8% on report of Tata Group, co initiating second round of talks”. The reply is awaited.

Jet Airways on October 19 said the news is speculative in nature and that there was no discussion or decision in the board which will require a disclosure. Read More

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