Skift Take
The troubled Indian aviation industry is finally getting the much-needed love from global/Asian players, but lot will depend on how soon Indian govt. eases up the foreign investment pathways.
This just in as an alert from Reuters: “Jet Airways in talks with Etihad to sell minority stake, talks expected to conclude in six weeks; SpiceJet in talks with Malaysia’s AirAsia to sell stake – govt source”
Also reporting on the possible talks are other reporters, including Shilpa Kannan from BBC India, who is tweeting about it:
Will this bring #AirAsia back to Delhi and Mumbai? – #Spicejet in talks with #AirAsia for stake sale: says Aviation Min Officials
— Shilpa Kannan (@shilpakannan) November 26, 2012
More aviation deals? #Jet Airways has informed Aviation Min on #Etihad talks
— Shilpa Kannan (@shilpakannan) November 26, 2012
And Bloomberg India is also reporting along the same lines and adds another piece about India’s national airlines AirIndia:
#Air India may merge Alliance Air with itself: say Aviation Min Officials
— Bloomberg TV India (@BloombergTVInd) November 26, 2012
#Jet Air has informed Aviation Min on #Etihad talks; Jet Airways founders may recast holding to enable deal: says Aviation Min Officials
— Bloomberg TV India (@BloombergTVInd) November 26, 2012
As a result of this news, SpiceJet is the top traded stock on Bombay stock exchange this morning and is up around 14 percent to 44.75 rupees, while Jet is also among the top traded, up 11.5 percent to 563.50 rupees.
This follows the reports yesterday about Etihad looking to pick up about 25% stake in India’s private airline Jet Airways, for about $400 million.
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