Shares of Jet Airways India Ltd down 7.11 percent at 421.30 rupees ahead of regulatory meet to decide on approval for Jet's stake sale to Gulf carrier Etihad Airways.

India's Foreign Investment Promotion Board (FIPB) is expected to meet on Tuesday to decide on Jet's planned 24 percent stake sale to Etihad.

The airline also announced its exit of Chief Executive Nikos Kardassis on Friday, without citing a reason. COO Hamid Ali is expected to be lead the carrier until a replacement is named.

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