Aviation

Tata-Jet Airways deal to fructify only if Naresh Goyal forgoes board seat: report

Updated : November 16, 2018 10:33 AM IST

Tata Sons will on Friday take up the proposal at its board meeting, which will focus on the conglomerate's investments in Jet Airways, sources told the newspaper.

The report said that since the merger with Vistara and Jet Airways is on the cards, the group is likely to phase out the Jet brand completely after the deal.

Tata-Jet Airways deal to fructify only if Naresh Goyal forgoes board seat: report

Tata Sons' acquisition of Jet Airways hinges on its founder Chairman Naresh Goyal relinquishing his board position even if he was to retain a minority stake in the business, Business Standard reported.

Tata Sons will on Friday take up the proposal at its board meeting, which will focus on the conglomerate's investments in Jet Airways, sources told the newspaper.

The report added that since the merger with Vistara and Jet Airways is on the cards, the group is likely to phase out the Jet brand completely after the deal.

A decision on the Jet deal is unlikely to materialise in the Friday meeting but an in-principle nod to considering the deal is possible, people familiar with the matter told the newspaper.

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