Thursday, November 15, 2018

Jet Airways stares at financial defaults within 10 days

Mumbai: The Tatas are closing in on to acquiring Jet, with deal-talks moving apace in recent weeks as Jet stares at possible financial defaults in the next ten days. Buyout investor TPG remains in the fray for Jet though discussions with Tatas are reliably learnt to have progressed significantly.

The Jet deal would give the House of Tata a combined market share of 24% in the country.

Jet, with a fleet of 124 aircraft, has a domestic market share of 16% and around 14% on international routes. Air Asia India and the 22-fleet Vistara have market shares of about 4% each in the country; neither operates internationally. The transaction would also give the Tatas a large network as well as slots at busy airports around the world.
15/11/18 Times of India