Tatas eye stake in Jet Airways

New Delhi, October 18

Tata Sons is mulling acquiring stake in crisis-hit Jet Airways, according to sources. The diversified Tata Group owns majority stakes in two airline joint ventures — Vistara and AirAsia India.

Sources said Tata Sons is mulling purchasing stake in Jet Airways and that the plans are at a very early stage.

Tata Sons is the promoter of the major operating Tata companies.

When asked about reports that Tata Sons is in discussions with Jet Airways for purchasing stake, an airline spokesperson said the information is “totally speculative”. Query sent to a Tata Sons spokesperson remained unanswered.

Naresh Goyal-led Jet Airways, in which Gulf carrier Etihad holds 24% stake, is grappling with financial woes and has even delayed payment of salaries to staff.

Tatas have 51% stake each in Vistara and budget carrier AirAsia India — where 49% is with Malaysia’s AirAsia Berhad.

The proposal for snapping up stake in Jet Airways also comes at a time when Vistara is looking to fly overseas. — PTI