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Jet Airways buyout: Tatas say no offer to cash-strapped airline yet

Tata Sons Friday said it has not made any concrete proposal for taking over the struggling carrier Jet Airways, and that it has held only “preliminary” discussions on the matter. The Tatas, which already run two carriers-the full-service Vistara in a joint venture with Singapore Airlines

and AirAsia India in a similar arrangement with Air Asia of Malaysia, have widely speculated to be planning a complete takeover of the Naresh Goyal-run airline with its international partner Singapore Airlines.

“We would like to clarify that any such discussions to take over Jet Airways have been preliminary and no proposal has been made,” a statement from the diversified conglomerate said after a board meeting here. The speculation has sent the Jet counter soaring over 40 per cent in the past five trading sessions alone.

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