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Jet Airways may sell 24% stake to Delta

 
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Sandy29
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Joined: 24 Jan 2007
Posts: 120
Location: BOS/DXB/IDR/HYD

PostPosted: Mon Jul 03, 2017 9:17 pm    Post subject: Jet Airways may sell 24% stake to Delta Reply with quote

What a lovely day it is Very Happy

http://www.moneycontrol.com/news/business/cnbc-tv18-comments/jet-airways-may-sell-24-stake-to-delta-sources-say-stock-jumps-around-4-2317291.html

Jet Airways is likely in talks with American airlines company Delta to sell up to 24 percent of its stake.

Sources privy to the development tell CNBC-TV18 that the stake sale will happen likely via issue of fresh equity in order to infuse fresh funds in Jet Airways.

Jet plans to raise around Rs 2,000 crore from this stake sale.

For this stake sale to go through, Jet Airway's will require Etihad's nod and post the sale Etihad may infuse funds to maintain its stake at 24 percent.

Responding to the channels query, Jet Airways said that it will not comment on speculation. There was no response from Delta to CNBC-TV18's email query.

Post the newsbreak Jet airways stock rallied close to 4 percent and is currently trading at levels of Rs 582 per share. Very Happy
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The_Goat
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Joined: 03 Mar 2007
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Location: South of France

PostPosted: Tue Jul 04, 2017 12:11 am    Post subject: Reply with quote

Where would this 24% come from?

From NG's promoter's stake or the non-Etihad public shareholder's stake?
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Caliguy
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Joined: 14 Nov 2007
Posts: 552
Location: Los Angeles

PostPosted: Tue Jul 04, 2017 5:18 pm    Post subject: Reply with quote

The_Goat wrote:
Where would this 24% come from?

From NG's promoter's stake or the non-Etihad public shareholder's stake?


They could just be issuing more stock (so no one cashes out, everyone gets equally diluted and the business uses the money to grow). So both NG and EY's share would go down equally. But I don't know this. Just speculating.
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theflyingsikh
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Joined: 08 May 2010
Posts: 535
Location: United Kingdom

PostPosted: Tue Jul 04, 2017 10:44 pm    Post subject: Reply with quote

Now wondering
Where did the third Lhr-Bom slot for 9W come from
Hmm 🤔
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Caliguy
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Joined: 14 Nov 2007
Posts: 552
Location: Los Angeles

PostPosted: Wed Jul 05, 2017 6:50 pm    Post subject: Reply with quote

theflyingsikh wrote:
Now wondering
Where did the third Lhr-Bom slot for 9W come from
Hmm 🤔


I thought people said it was the Kuwait air slot?
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