Lenders to Jet Airways (India) Ltd., led by State Bank of India, have reached out to two potential investors, just days after they became majority equity holders in the airline.
According to two people familiar with the matter, lenders have reached out to U.S.-based private equity investor TPG Capital and the Tata Group for a potential investment in Jet Airways. The two people spoke on condition of anonymity as the talks are confidential.
According to the two people quoted above, lenders reached out to the two bidders since they had previously showed interest in Jet Airways but talks had fallen through. Even now, the conversations are at preliminary stages and no formal bid has been prepared by either parties, the people quoted above said.
According to the first person quoted above, TPG Capital would likely come in with a strategic partner if they choose to invest. The Tata Group already has a tie up with Singapore Airlines since 2013, through which it manages Vistara Airlines. As such, any investment in Jet Airways would have to be in keeping with the group’s broader strategy for the aviation sector.
A spokesperson for the Tata Group said the group does not comment on market speculation. A TPG Capital spokesperson declined to comment. Jet Airways and SBI are yet to respond to queries mailed on Thursday.
28/03/19 Viswanath Nair/Bloomberg Quint
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According to two people familiar with the matter, lenders have reached out to U.S.-based private equity investor TPG Capital and the Tata Group for a potential investment in Jet Airways. The two people spoke on condition of anonymity as the talks are confidential.
According to the two people quoted above, lenders reached out to the two bidders since they had previously showed interest in Jet Airways but talks had fallen through. Even now, the conversations are at preliminary stages and no formal bid has been prepared by either parties, the people quoted above said.
According to the first person quoted above, TPG Capital would likely come in with a strategic partner if they choose to invest. The Tata Group already has a tie up with Singapore Airlines since 2013, through which it manages Vistara Airlines. As such, any investment in Jet Airways would have to be in keeping with the group’s broader strategy for the aviation sector.
A spokesperson for the Tata Group said the group does not comment on market speculation. A TPG Capital spokesperson declined to comment. Jet Airways and SBI are yet to respond to queries mailed on Thursday.
28/03/19 Viswanath Nair/Bloomberg Quint
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