Monday, August 20, 2018

TPG Capital joins race to buy stake in Jet Airways Privilege loyalty programme

Private equity firm TPG Capital is looking to buy a stake in the frequent-flyer loyalty programme of debt-laden carrier Jet Airways (India) Ltd, the Mint newspaper reported on Monday, citing sources.

Jet has appointed Morgan Stanley to advise on the potential deal, the report  added.

The deal with TPG could value the loyalty programme, Jet Privilege Private Ltd, at $400 million, the newspaper said, adding that Jet continues to engage with Blackstone Group for a similar deal.

The deal with Blackstone could value the programme between 30 billion rupees ($428.02 million) and 40 billion rupees and would be dependant on Jet Airways securing adequate funding for its airline operations, Bloomberg reported last week.
20/08/18 Reuters/ZeeBiz