Saturday, November 17, 2018

Tata Sons confirms takeover talks with Jet Airways, but says offer not made yet

New Delhi: Tata Sons has confirmed that the group has been in talks with Jet Airways over possible takeover of the beleaguered airline, but said no formal proposal has been offered so far.

"Over the last few days there has been growing speculation in the print and electronic media about Tata's interest in Jet Airways. We would like to clarify that any such discussions have been preliminary and no proposal has been made," a Tata Sons spokesperson said.

Earlier, it was reported that the board of Tata Sons will meet on Friday to discuss a proposal to take over Jet Airways, which is looking for investors to tide over liquidity crunch that it is saddled with.

Airline's deputy chief executive and chief financial officer Amit Agarwal earlier this week had also admitted that the company was in talks with "multiple interested parties" for fund infusion as well as selling six of its Boeing 777 planes and a stake in its loyalty progarmme Jet Privilege.
16/11/18 Business Today