Monday, August 28, 2006

Sahara-Jet parleys reach fever pitch on hearing eve

Mumbai: Air Sahara is believed to be in talks with Boeing for acquiring new aircraft, even as hectic parleys are on by mediators to resolve the Jet-Sahara imbroglio after the failure of the high profile Rs 2,300 crore acquisition.
Top sources say that as part of the revival attempts, Air Sahara is planning to place an order of over 10 planes with the US based company. However, the order comes at a time when the airline has a large burden of debt on its books. At present, Air Sahara flies 20 Boeing family aircraft and seven 50-seater Canadian Regional Jets (CRJ 200).
Mediators are believed to have been working on various solutions - one of which entails paying off Rs 300 crore (instead of Rs 500 crore) to Jet in an out-of-court settlement. Another proposal is to renew negotiations by offering Air Sahara at a lower price. All these moves come just when the Jet-Sahara case comes up for hearing in the Supreme Court on Monday August 28.
27/08/06 Business Standard
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