Wednesday, November 14, 2018

Tatas in active talks to buy out JetAirways

Tata Sons is in active talks to acquire a controlling stake in Jet Airways, four people aware of the talks told Reuters, in what could potentially be a lifeline for the debt-laden carrier.
Tata is very interested in Jet but it is not at a stage of conducting due diligence or looking through non-public data, said two of the people, who spoke on condition of anonymity as the discussions are private.
Tata told Reuters it would not comment on speculation. Jet did not respond to an emailed request for comment.
One potential deal structure could include Tata taking over Jet’s assets, including the planes, leases, pilots and slots, but not the whole company, one of the people said.
The first step is to see if the economics are viable, if it makes sense from the cost and strategy perspective, and if Tata can make it work with its other aviation businesses, the person said.

Tata already owns and operates two airlines in the country: full-service carrier Vistara, which is in partnership with Singapore Airlines, and low-cost carrier AirAsia India in combination with AirAsia Group.
14/11/18 Reuters/Financial Express