Jet Airways has denied media reports on selling its frequent flyer program to Etihad Airways, the company officials confirmed to CNBC-TV18.
The stock of country's largest private airline company today rallied more than 4 percent on reports that the company may sell 50 percent stake in its frequent flier unit to Etihad Airways for about USD 150 million.
Currently, Jet Airways manages its JetPrivilege frequent flier or loyalty programme in-house. It also has several tie-ups with hotels, retail and lifestyle brands. In August 2012, the airline's board had secured shareholder approval for setting up a marketing service company to manage the loyalty programme.