While Jet Airways' peers have been making sharp gains post the cabinet's decision to allow foreign direct investment in the aviation sector, the Jet stock has remained flat over the past two days because of its high promoter stake. But if a deal works out with UAE's Etihad, Jet Airways may just be the first to receive FDI. The stock is up 1.55 percent today at Rs 366 post media reports about a likely alliance between the two airlines, while Kingfisher Airlines is down 6.7 percent and SpiceJet by 3.5 percent. However, the Abu Dhabi-based Etihad is also reported to be in talks with SpiceJet and had an earlier deal with Kingfisher Airlines for a possible investment. And with 80 percent of Jet shares already owned by Naresh Goyal through an Isle of Man company (which is in breach of existing regulations), the question is which deal will Etihad find easier to do. a href=http://www.firstpost.com/business/can-jet-already-80-owned-from-isle-of-man-seek-fdi-461079.htmlA emFirstpost/em story had said earlier that/a multiple efforts by Jet to raise money abroad through the Qualified Institutional Placement (QIP) route have been rejected by the Foreign Investment Promotion Board in the past because of the breach of current FDI policy. How then will the airline be able to structure a deal with Etihad or any other foreign carrier? [caption id=attachment_462173 align=alignleft width=380