Jet Airways shares plummet on reports Etihad deal stuck

First Published: Mon, Mar 18 2013. 02 17 PM IST

 

 Shares of Jet Airways has seen heavy volatility in recent times, tracking the reported status of the proposed deal. Photo: Hemant Mishra/Mint 

 Updated: Mon, Mar 18 2013. 03 47 PM IST

Mumbai: Shares of Jet Airways (India) Ltd dived as much as 13% on Monday afternoon after television station NDTV’s website reported that its deal with Abu Dhabi-based Etihad Airways PJSC may hit roadblocks.

Fresh disputes have emerged over investment protection and management control between the two carriers, the report said, citing unnamed people.

Jet Airways spokeswoman said the information about Jet-Etihad deal falling through “is incorrect and at the same time merely speculative”.

Etihad spokespersons declined to comment.

Shares of India’s second-largest airline by passengers carried has seen heavy volatility in recent times, tracking the reported status of the proposed deal.

At 1:48 pm, Jet Airways shares plunged 9.8% to Rs.518.60 on BSE, while the exchange’s 30-share benchmark Sensex traded 0.6% lower at 19,307.34 points.