Tata Sons Says It Is In Preliminary Talks With Jet Airways: 10 Points
- "Over the last few days there has been growing speculation in the print and electronic media about Tata's interest in Jet Airways," Tata Sons said after the board meeting. "We would like to clarify that any such discussions have been preliminary and no proposal has been made."
- Tata Sons' board meeting came amid intense speculation that it is seeking to merge the struggling Jet Airways with Vistara, operated jointly by Tata SIA Airlines and Singapore Airlines.
- News agency Bloomberg, citing people familiar with the matter, reported that the government has sought Tata Sons' help to rescue Jet Airways.
- Earlier, news agency Reuters, citing people aware of the talks, reported that Tata is weighing up the economic viability of the deal which would make it Jet's decision-maker. The merger would also necessitate the departure of Jet Airways' founder Mr Goyal.
- However, Jet Airways, the country's biggest full-service carrier, later on Thursday termed the reports as "purely speculative". "The subject news is purely speculative in nature and there are no discussions or decisions by the Board...," Jet Airways said in a regulatory filing.
- Shares in Jet Airways closed 6.3 per cent higher on the National Stock Exchange (NSE).
- Tata Group also operates AirAsia India, in combination with AirAsia Group Bhd.
- Jet Airways is struggling to make payments to creditors, including aircraft lessors and employees. Earlier this week, Jet Airways reported its third straight quarterly loss. Net loss stood at Rs 1,297 crore for the period between July-September 2018.
- Jet Airways Group currently operates a fleet of 124 aircraft, comprising Boeing 777-300 ERs, Airbus A330-200/300, Boeing 737 Max 8, Next Generation Boeing 737s and ATR 72-500/600s.Â
- Jet Airways was one of the first to take off in the early 1990s after the country opened up aviation to non-state carriers. (With inputs from agencies)
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
