Etihad offers to invest in Jet Airways at discounted rate of Rs 150/share

Etihad Chief Executive Tony Douglas has written to State Bank of India on the restructuring plan for the airline

Etihad Airways has offered to pick up shares of debt-laden Indian carrier Jet Airways Ltd at a 49 per cent discount and to immediately release $35 million after certain conditions are met, CNBC-TV18 reported on Wednesday.

Shares of Jet Airways, in which Etihad already owns a 24 per cent stake, tumbled as much as 7.5 per cent to 271.75 rupees in their biggest intraday drop since early December.

The Abu Dhabi carrier has offered 150 rupees for each Jet share, CNBC-TV18 said, citing a letter from Etihad's CEO.

Tony Douglas has written to the State Bank of India (SBI), Jet's biggest lender, on