Stock Market

Jet Airways may sell minority stake to raise funds: Sources

Mar 28, 2017 08:15 PM IST | Source: CNBC-TV18

The aviation company is in talks with investors to raise funds via minority stake sale, sources say.

Jet Airways is working on a big fund-raising plan. Sources tell CNBC-TV18 that several interested suitors are in talks with Naresh Goyal’s aviation firm for investments.

The aviation company is in talks with investors to raise funds via minority stake sale, sources say.

People privy to the development have told the channel that Abu Dhabi Investment Authority (ADIA) and sovereign wealth funds are in talks with Jet Airways.

Jet Airways plans to utilise funds received from the stake sale to reduce its debt.

Jet Airways, ADIA did not offer any comment on CNBC-TV18’s query.

The stock was up 1.5 percent post the newsbreak.

Watch video for more.