Buy Jet Airways for long term: PN Vijay

Vijay told CNBC-TV18, "Jet Airways surely is a long term buy. The Etihad deal is definitely happening and market is trying to price through various factors what the open offer would be and so on. Looking ahead if Jet Airways has the power of Etihad in its global operations and the financial muscle of the partner in the domestic market which is really up for grabs considering the way that Kingfisher has caved in and its slots are available.”

He further added, “It is a great place to be in and I would see a situation lets not forget if you looked at Jet Airways price, the last time the index hit 6000, it was over Rs 1000 or something. So, Jet Airways has lost a lot of market cap. So, over a one year time frame I am basing my long term buy on this based on the assumption that Etihad deal will go through and Jet because of that will get all the benefits domestically and internationally."