Abu Dhabi/New Delhi: Abu Dhabi-based Etihad Airways denied a media report on Tuesday that it is in discussions with the Indian government to raise its 24 percent stake in Jet Airways .
Citing unnamed government sources, Bloomberg TV India said in a report earlier on Tuesday that Etihad had approached India`s Ministry of Civil Aviation for permission to buy more of Jet, the country`s second-biggest carrier by market share.
"We are not in discussions with the government about raising our stake in Jet Airways," an Etihad official said in an emailed statement.
Etihad bought a stake in Jet, which has not made an annual profit since 2007, two years ago, giving it a foothold in India`s fast-growing aviation industry.
Shares in Jet closed up 2.44 percent on Tuesday against a 0.27 percent rise in the benchmark. A spokesman for Jet did not immediately respond to a request for comment.
