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Jet Airways denies rise in Etihad stake as reported in its letter to BSE

India Blooms News Service | | Feb 19, 2016, at 11:43 pm

#Jet Airways # Jet Ethihad stake

Mumbai, Feb 19 (IBNS) Jet Airways, in its reply to a clarification sought by the Bombay Stock Exchange (BSE), on Friday said that the news that 'Etihad is set to raise its stake in Jet Airways to 49% from 24%' as published in a newspaper is a rumour and no such move is under contemplation.

Earlier on Friday, Jet Airways shares rose as much as 5 per cent, according to media reports.

The BSE had sought a clarification from the airlines regarding the news and the upward movement of the share price.

Jet Airways, in its reply, denied the news, saying, "news item is a rumour and is speculative in nature and no such move is under contemplation. Clarification to this effect has already been provided to Financial Express and the same has since been reported by them."

In its reply, the airlines also said, "The Company has been following a consistent corporate governance policy of disclosing all events and information that have bearing on the operation/performance of the Company pursuant to decisions taken by the Board of Directors of the Company from time to time but refrain from commenting on any such news items, to avoid any speculative activity."

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