Jet Re­work­ing Prof­itabil­ity Plan

The Economic Times - - Companies -

Jet Air­ways is re­work­ing a com­pre­hen­sive prof­itabil­ity plan sought by Eti­had Air­ways, which com­pleted a 24% stake pur­chase in the Naresh Goyal-led car­rier re­cently. The de­vel­op­ment comes on the heels of the mar­ket reg­u­la­tor Sebi ex­empt­ing the UAE car­rier from mak­ing an open of­fer to the pub­lic share­hold­ers of Jet. Had Sebi in­sisted on mak­ing an open of­fer, Eti­had would have au­to­mat­i­cally be­come the con­trol­ling part­ner of Jet with a 50% stake, which would have been 1% more than what the sec­toral FDI norms per­mit. — PTI

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