Companies in the aviation space are unlikely to invest in cash-strapped Jet Airways, which will be put up for auction soon, Business Standard reports.
Tata group, SpiceJet and InterGlobe Aviation (Indigo) will most likely skip bidding for Jet Airways, sources told the publication.
Major Indian airlines will not be participating in the bid due to the high cost of acquisition, uncertainty over corporate governance and weak financial conditions, they stated.
Moneycontrol could not independently verify the news.
Companies in the aviation space are unlikely to invest in cash-strapped Jet Airways, which will be put up for auction soon, Business Standard reports.
Tata group, SpiceJet and InterGlobe Aviation (Indigo) will most likely skip bidding for Jet Airways, sources told the publication.
Major Indian airlines will not be participating in the bid due to the high cost of acquisition, uncertainty over corporate governance and weak financial conditions, they stated.
Moneycontrol could not independently verify the news.
Tata Sons, the holding company of Tata Group, has decided that there will be no negotiations for a deal with Jet Airways without a complete due diligence, the report said.
'Legacy issues' and the origin of the airlines funding have been said to be cited as issues by the Tata Group. The conglomerate already operates Vistara and AirAsia India along with foreign players.
28/03/19 Moneycontrol.com
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Tata group, SpiceJet and InterGlobe Aviation (Indigo) will most likely skip bidding for Jet Airways, sources told the publication.
Major Indian airlines will not be participating in the bid due to the high cost of acquisition, uncertainty over corporate governance and weak financial conditions, they stated.
Moneycontrol could not independently verify the news.
Companies in the aviation space are unlikely to invest in cash-strapped Jet Airways, which will be put up for auction soon, Business Standard reports.
Tata group, SpiceJet and InterGlobe Aviation (Indigo) will most likely skip bidding for Jet Airways, sources told the publication.
Major Indian airlines will not be participating in the bid due to the high cost of acquisition, uncertainty over corporate governance and weak financial conditions, they stated.
Moneycontrol could not independently verify the news.
Tata Sons, the holding company of Tata Group, has decided that there will be no negotiations for a deal with Jet Airways without a complete due diligence, the report said.
'Legacy issues' and the origin of the airlines funding have been said to be cited as issues by the Tata Group. The conglomerate already operates Vistara and AirAsia India along with foreign players.
28/03/19 Moneycontrol.com
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