Air Sahara for sale, yet again

Mumabi: Bolstered by a revival in its fortunes last quarter, the promoters of Air Sahara are believed to be considering a sale of the airline once again. After parting ways with Jet Airways, the Sahara group has attempted to turn around the airline. The current quarter has shown a sharply improved performance and the Sahara group promoters believe that it will be a good time to scout around for buyers.
People close to the development said the promoters are convinced that the airline will have to be sold and that an in-principle decision has already been taken on the issue. The sale process has not yet begun and will commence formally only after the current quarter of profitable operations, they added.
Sources close to the issue said the transaction is likely to be structured in a way that all the risk and liability arising from the litigation with Jet Airways belongs to the seller, Sahara group.
29/11/06 Cuckoo Paul/Economic Times

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