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Shares of Jet Airways (India) Ltd jumped as much as 4.1 per cent to Rs 295, highest since August 9.
According to a media report, US private equity firm Blackstone Group LP is in talks to acquire a stake in the frequent-flier loyalty programme of Jet Airways (India) Ltd.
A potential deal could value the loyalty programme, Jet Privilege Pvt Ltd, between Rs 3,000-4,000 crore ($429.1 million-$572.1 million) and would be dependant on Jet Airways securing adequate funding for its airline operations, the report said.
Jet Airways and its partner Etihad Airways will remain investors in Jet Privilege even after a potential Blackstone transaction. Etihad owns 50.1 per cent of the loyalty programme, while Jet Airways owns the rest.
Jet Airways and Blackstone did not respond to Reuters' request for comment. Beleaguered Jet Airways had said on Monday it was considering funding options on priority,
More than 3.16 million shares exchanged hands vs 30-day average volume of 6.7 million shares. Jet Airways stock had fallen 65.9 per cent this year as of last close.
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