Stock in Jet Airways gained more than 10 per cent to Rs 555.85 a share on the National Stock Exchange (NSE), and 9.93 per cent to Rs 554.10 a share on the Bombay Stock Exchange (BSE) on Friday, on the back of reports that Etihad Airways was in the final stage of buying a stake in the Indian carrier.

A news channel reported that Abu Dhabi-based Etihad Airways might buy a 10 per cent to 12 per cent stake in Jet Airways directly from promoters. The channel added that Etihad might pay up to Rs 750 per share for the stake.

Etihad has long been in talks to buy a stake Jet Airways. Government sources said the Abu Dhabi-based airline had plans to acquire a 24 per cent stake in the national carrier.

India's new foreign direct policy (FDI) allows foreign airlines to acquire up to 49 per cent stake in Indian carriers.

On February 27, Etihad Airways concluded a deal to acquire Jet Airways' three slots at London airport for nearly $70 million.

Meanwhile, Etihad Airways has named Wayne Borland as its Regional Business Manager for its Asia Pacific South business. The newly created position is based in Sydney, the headquarters of the airline's Asia Pacific South business.

Wayne, who has been the National Sales Manager in the airline's Australian commercial team for the past two years, will now provide business & analytical support to the Asia Pacific South's vice president as well as to the airline's general managers positioned in countries like Vietnam, Singapore, Indonesia and Malaysia.