Tata group may keep Jet flying
The Tatas may seem interested in acquiring the cash-strapped Jet Airways that has been put on sale by Indian lenders. State Bank of India on Thursday decided to invite Expression of Interest (EOI) from interested parties to find a buyer at the earliest.
According to the sources, the Tatas are planning to submit a bid. The last date for submission of bids is April 9. When Tatas were asked to comment on the same, a spokesperson of Tata said, “We do not comment on market speculation.” Tata group has already been running Vistara and AirAsia India in joint ventures.
The first round of talks:
In November 2018, when Jet Airways was already experience soft field in its journey; the Tata group held preliminary talks to invest in Jet Airways. The Tata group withdrew its talks because the Jet’s promoter wanted to maintain control over the airline. It was not suitable for the Tata Group. Now that Jet Airways Founder, Naresh Goyal along with his wife, Anita Goyal, had left the airline they founded nearly 25 years ago, the Tata group again seems to be interested.
According to an analyst, “The Tatas will be a good option for Jet Airways. They can consolidate and combine their strengths. The Indian aviation sector needs consolidation.”
– PTC NEWS