- Inflation continues to slip down; dips to 8.90%
- Tripura gets Rs.2.58 bn reward for financial discipline
- Agricultural education gets Rs.22.76 bn boost
- Orissa Mining Corp to slash iron ore prices by 50 percent
- Cabinet approves pay revision for central public sector enterprises
- Madras Aluminium Co. cuts production by 60 percent
Jet Airways Again Buy Sahara
April 09: Following a ten months long tussle between Jet Airways and Air Sahara, the two have agreed over the sell off deal of Air Sahara to Jet Airways. An arbitration process, which was set into motion last year, will soon give its final verdict and the new tag for Air Sahara will be Rs 1875 crore. It will be an â??out of courtâ?? settlement and the exact figures are still to be ascertained.
-
E-mail Article 
Printer Friendly
Text-Size 
Naresh Goyal, chairman Jet Airways refused to buy Air Sahara some ten months before, after agreeing to pay Rs 2200 crore to Air Sahara. The final deal agreed this time is going to be close to Rs 1400 crore. Air Sahara has already received Rs 500 crore, 500 more will be provided after completing the process and Rs 450 crore will be transferred in three years period.
The process will shape up in two to three months and most of the liabilities of Air Sahara will be taken by Jet Airways. According to official sources, they will inform the stock exchanges about the deal tomorrow and after that the official announcement will be held.
Jetlite faces nationwide anger after restricting the entry of physically challenged.
Govt provide the way to Jet for Gulf from January 2008.
Jet has no relationship with Hawala: Palanimanickam.
Atapattu steers Delhi Jets to finals.
Jet Airways plans to expands its international service.