Aviation

TPG Capital in the race to buy stake in Jet Privilege, says report

Updated : August 20, 2018 01:00 PM IST

The airline is looking to sell a stake in the Jet Privilege to raise cash for its loan repayment obligations and also for operational needs.

TPG Capital in the race to buy stake in Jet Privilege, says report

US private equity firm, TPG Capital has shown interest in buying a stake in Jet Privilege Pvt Ltd, the loyalty programme of Jet Airways, reported by Mint.

The transaction could value the privately held Jet Privilege at $400 million, the report said.

The airline is looking to sell a stake in the Jet Privilege to raise cash for its loan repayment obligations and also for operational needs, added the report.

It was also speculative and denied by the company that Blackstone Group LP is also in talks with the company to buy a significant stake, the report said.

Financially troubled Jet Airways owns 49.9 percent of the loyalty programme while the remaining stake is held by Abu Dhabi-based Etihad Airways, which also has 24 percent stake in the Jet Airways, the report said.

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