Tata Sons says it is in preliminary talks with Jet Airways
New Delhi, Nov 16 (IBNS): Tata Sons, the holding company of Tata Group, on Friday clarified that it is in preliminary talks with Jet Airways and no proposal to acquire a stake in the carrier has been made so far.
Tata Sons made the remarks following a board meeting on Friday.
The statement was issued by the company amid a buzz that it could acquire a controlling stake in the debt-ridden carrier.
In its statement, the company said: "Over the last few days there has been growing speculation in the print and electronic media about Tata’s interest in Jet Airways."
"We would like to clarify that any such discussions have been preliminary and no proposal has been made," the company said.
According to a report in Livemint earlier, Jet Airways (India) Ltd is planning to sell six Boeing 777 planes to clear most of its aircraft-related debt, which stands at about INR 1,800 crore. Jet Airways chief financial officer Amit Agarwal told this to analysts at a post-earnings call on Tuesday last, the paper reported.
Jet Airways net debt runs into INR 8,052 crore at the end of the quarter that ended on 30 Sept 2018.
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