Jet Airways scrip gains for 4th day; up over 1%

Jet Airways scrip gains for 4th day; up over 1% Mumbai: Rising for the fourth day on Wednesday, shares of Jet Airways settled with over 1 percent gain amid reports that the carrier plans to extend its code share agreement with the Abu Dhabi-based Etihad Airways to the Mumbai-Brussels-Newark route.

Separately, Jet Airways is in the process of finalising a stake sale deal with Etihad Airways.

After surging over 4 percent in intra-day trade, shares of the Naresh Goyal-owned carrier pared some of the gains and ended at Rs 575.95, up 1.19 percent on the BSE, in an otherwise weak stock market.

At NSE, the scrip was up 1.31 percent at Rs 577.30.

Code-sharing allows an airline to book passengers on its partner carriers and provide seamless transport to multiple destinations where it has no presence.

Jet and Etihad have a code-sharing agreement since 2008. Late last year, it expanded the tie-up further with a similar arrangement for the Abu-Dhabi-Paris route.

The BSE 30-stock index, Sensex, ended at 19,362.55, down 202.37 points.