Jet Airways shares fall on bourses on Etihad deal delay reports

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Jet Airways shares fell sharply on the bourses on Thursday following concerns that its stake-sale deal with Abu Dhabi-based carrier Etihad may be delayed.

After opening weak in early trade shares  lost 5.59 per cent to Rs 472.05 before recovering to 486, down 2.86%

At NSE, the stock plunged 5.75 per cent to Rs 472 before recovering to 486.

The company lost Rs 128 crore from its market worth that fell to Rs 4,189 crore from Rs 4,317 crore in the previous trading session.

According to a media report, stake sale to Abu Dhabi’s Etihad Airways could be delayed until at least August.

Etihad is reported to be buying 24 per cent equity in Jet Airways for about Rs 1,800 crore.