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Tata Sons chief likely to seek board's backing for Jet Airways acquisition: report

Tata Sons chief likely to seek board's backing for Jet Airways acquisition: report

Tata Sons chief likely to seek board's backing for Jet Airways acquisition: report
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By CNBC-TV18 Nov 15, 2018 8:28:16 AM IST (Published)

Tata Sons chairman N Chandrasekaran is likely to present a business viability plan to the board on the proposed acquisition of cash-strapped Jet Airways, The Times of India reported.

Tata Sons chairman N Chandrasekaran is likely to present a business viability plan to the board on the proposed acquisition of cash-strapped Jet Airways, The Times of India reported.

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The plan will focus on long-term financial goals and the path for combining the acquired business and the group's existing aviation interests, people close to the development told the newspaper.
The share-purchase in the private carrier requires the backing of Tata Sons’ board and Tata Trusts, the controlling shareholder.  The move will be the conglomerate's third investment in the aviation sector since the 2013 launch of Air Asia India and Vistara.
CNBC-TV18 had reported earlier that Tatas were looking to combine Jet Airways and Vistara in their business plan, Currently, Tata Sons holds 51 percent and Singapore Airlines holds the balance 49 percent in Vistara.
 
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