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Thursday, 18 October 2018

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Tata Group to soon buy stakes in Jet Airways

Tata Group to soon buy stakes in Jet Airways





Tata Group, the country's largest business entity, has had an initial conversation to buy a large stake in the endangered Jet Airways. Naresh Goyal's Jet Airways has delayed paying salaries to the pilots. It is also finding it difficult to pay other employees. In this case, the aviation company is in a position to sell its stake. But Tata Group's parent company, Tata Sons, wants to take the managerial control of Jet in their hands.

Tata has already landed in the aviation sector through two joint ventures. Their first venture is with Singapore Airlines, which operates the extension, while the other venture operates Air Asia.Deal with Jet will help Tata to strengthen its aviation business through more routes, more ships and more market share.

Deal negotiation can be long-term with some intriguing issues, such as the role of management and the role of Jet Chairman Naresh Goyal in the future. However, the two sides are keen to pursue this conversation. Naresh Goyal and his wife Anita hold 51 percent of Jet's shares. He spoke of a round with TPG, but it did not move forward with the controlling rights.

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