The great Indian aviation stake sale begins: Etihad looking at Jet, AirAsia at Spicejet

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:

And Bloomberg India is also reporting along the same lines and adds another piece about India’s national airlines AirIndia:

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.