Reports of Reliance buying stake in Jet incorrect - Jet Airways

New Delhi, Jun 17 (UNI) Jet Airways today termed a news item stating Reliance to buy 6-7 per cent stake in the airline, as 'incorrect'.

According to a media report, Reliance was keen on a minority stake as it wanted to be associated with the domestic carrier's proposed cargo airline.

However, the company clarified in an official statement issued this evening that the reports were not correct.

For Jet, a stake sale would give it cash at a time when Indian airlines are losing money due to high oil prices.

UNI PDT SLD RN2005