Shares in Jet Airways rose over 7 per cent in early trade on Tuesday on reports that it may sell stake to Etihad Airways.
A newspaper reported, citing a government official, said that Jet might raise Rs 1,600 crore from the sale of 24 per cent stake to Etihad Airways.
Etihad's chief executive officer said on Tuesday the Abu Dhabi-based airline was in talks with Indian airlines.
"We're involved in negotiations in India," James Hogan said in an interview broadcast on a TV news channel. He declined to give details.
Jet Airways has risen 65.3 per cent since the start of November, as of Monday's close, on speculation that promoter shareholder is looking to sell a stake.
Shares in other carriers such as SpiceJet rose 4 per cent, while Kingfisher Airlines gained 3 per cent.
Copyright Thomson Reuters 2012
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