Jet Airways Acquires Sahara
In a landmark deal, private airlines Jet Airways on Thursday announced acquisition of Sahara Airlines to become the largest domestic carrier in India.
The board of directors of the company at its meeting held January 19, 2006, has considered and approved, subject to receipt of regulatory approvals as maybe required, the acquisition by the company of 100 per cent of the fully paid up equity share capital of Sahara Airlines," Jet Airways said in a communication to stock exchanges.
Jet Airways, however, did not disclose the amount for which the company acquired Sahara Airlines.
According to informed sources, Jet Airways clinched the deal for an estimated amount of over Rs 2,300 crore.
The board of directors of the company at its meeting held January 19, 2006, has considered and approved, subject to receipt of regulatory approvals as maybe required, the acquisition by the company of 100 per cent of the fully paid up equity share capital of Sahara Airlines," Jet Airways said in a communication to stock exchanges.
Jet Airways, however, did not disclose the amount for which the company acquired Sahara Airlines.
According to informed sources, Jet Airways clinched the deal for an estimated amount of over Rs 2,300 crore.
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