November 5, 2018
India’s Tata Group is in talks to buy a stake in beleaguered carrier Jet Airways and its loyalty program, television news channel CNBC-TV18 reported on Monday, citing sources.
Tata Group aims to buy the 51 percent stake owned by Jet Airways founder, Naresh Goyal, and Etihad Airways’ 24 percent stake, the station reported. Tata aims to merge Jet with its full-service carrier Vistara which it owns in partnership with Singapore Airlines, it said.
Tata said in a statement it will not comment on speculation. Jet did not immediately respond to a request for comment.