In the clearest sign yet that talks to seal India’s bigger-ever merger and acquisition deal in aviation are gathering steam, Tata Sons chairman N Chandrasekaran is expected to present to the board on Friday a business viability plan on the proposed acquisition of the struggling Jet Airways.
The plan will touch on long-term financial goals as well as on the proposed path for combining the acquired business with that of the group’s existing aviation interests, according to people close to the development.
The share-purchase in India’s biggest full-service private carrier needs the backing of Tata Sons’ board as well as its controlling shareholder, Tata Trusts.
The move clearly indicates the Tatas’ interest in Jet, and would be its third investment in the country’s aviation sector since the 2013 launch of Air Asia India, a budget carrier, and Vistara, a full-service airline. Read More