Aviation

Tata Group in talks to buy large stake in Jet Airways, says report

Updated : October 18, 2018 09:15 AM IST

According to the TOI report, Jet Airways is seeking an equity collaboration, however, Tata Sons have sought management control.

Tata Group in talks to buy large stake in Jet Airways, says report

Indian multinational conglomerate Tata Group is considering buying a large stake in the debt-ridden Jet Airways and is already holding talks for the same, reported The Times of India.

According to the TOI report, Jet Airways is seeking an equity collaboration, however, Tata Sons have sought management control.

The deal, if takes place, could help the Tata Group improve the aviation business in terms of network depth, market share and fleet presence, said the report.

While a Jet Airways spokesperson termed the report as “highly speculative”, Tata Group refused to comment, as per the report.

Even though both the companies are exploring ways to take the talks forward, crucial factors like management rights and the future role of Jet Airways chairman Naresh Goyal could derail the talks, the report added.

Jet Airways has been facing financial problems for quite some now with the company being forced to delay salaries of its pilots and engineers.

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