No question of diluting stake in Jet Airways: Goyal

Currently, Etihad has 24 per cent shareholding in Jet Airways

Jet Airways chairman Naresh Goyal on Thursday asserted that he would not reduce his 51 per cent stake under "any circumstances".

Goyal met civil aviation secretary R N Choubey amid reports that Abu Dhabi-based Etihad Airways is looking to hike its stake in Jet Airways.

Currently, Etihad has 24 per cent shareholding in Jet Airways.

After the meeting, Goyal said he does not plan to reduce his 51 per cent stake in the carrier "under any circumstances".

Sources said various operational issues related to Jet Airways, including possible capital infusion, were discussed during the meeting.

On Wednesday, Jet Airways had termed media reports about Etihad approaching the Indian government seeking to raise stake in the carrier as "entirely incorrect".

In the quarter ended March 2015, Jet Airways saw its net loss narrow to Rs 1,728.99 crore (Rs 17.29 billion), aided by lower expenses, fall in aviation fuel costs and higher income from operations.

The carrier, which has completed the first year of its strategic alliance with Etihad, had a net loss of Rs 2,513.57 crore (Rs 25.14 billion) in the quarter ended March 2014.

However, total income from operations jumped to Rs 5,064.52 crore (Rs 50.64 billion) in the fourth quarter ended March 2015 from Rs 4,566.17 crore (Rs 45.66 billion) in the same period a year ago.