Jet Airways on Thursday officially admitted it was in stake sale talks with Abu Dhabi-based Etihad Airlines. Aviation ministry top brass, which is being regularly briefed by Jet management, says Etihad is likely to pick up to a 24% stake in a deal valued between Rs 1,500-1,800 crore. They say the deal is likely to be announced in the next fortnight. 

"Jet and Etihad are in a discussion regarding a potential investment by the latter in the former.. these discussions have commenced recently pursuant to the liberalized FDI policy which permitted foreign investment in the shares of an Indian airline. The discussions are in progress but no terms have been firmed up at present. Various structures are being explored by the legal and commercial teams and care being taken to ensure that all the Indian regulatory requirements are fully complied with," Jet said in a filing to the BSE as per TOI report.

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