08.17.06
Jet Airways and Air Sahara in Talks again
Jet Airways and Air Sahara in Talks again
Jet Airways and Air Sahara are now taking initial steps towards reviving the buyout deal originally signed between the two in January this year. Sources from both airlines, who did not wish to be identified, said there is a realisation that the current state of affairs is harming the interests of both parties. Around Rs 2,000 crore of Jet Airways is stuck due to the breakdown of talks between the airlines. Of this, Rs 1,500 crore is in an escrow account, and another Rs 500 crore that it had paid to Air Sahara as guarantee money is also held up.
Jet Airways executive director Saroj Dutta said, “There is nothing to say on the issue”, while the Sahara group spokesperson said there is nothing substantial yet. However, sources close to the developments say the channels of communication were never closed and emissaries from both sides have been talking to each other.