Jet Airways takes off, finally!

Jet Airways is the top gainer on the BSE currently, up 4% at Rs.344, with an intra day high at Rs.354. Volumes have shot up by 1.3 times in the morning trades.

The stock has taken off as the final clearance, from Competition Commission of India (CCI) came in. The CCI ruled that the Jet-Etihad deal was not anti-competitive and this allows Jetto compete effectively in Indian markets. CCI has stated that though total seat distribution to Jet and Etihad increases from 17% to 22% CCI said that it is unlikely that this market power will be exploited. Though the CCI also concedes that the combined market share of Jet-Etihad is likely to increase to 50% post this deal. Finally, this marks the closure of the ling drawn deal and the much needed reprieve for Jet.