Jet Airways buy Air Sahara
Posted: Fri Jan 20, 2006 7:23 amIn the biggest ever aviation deal in India, Jet Airways has clinched a deal to take over Air Sahara for over 500 million dollars.
A formal announcement of the agreement is to be made today, making the amalgamation the biggest airline in the country.
In its communication jet informed that "The board of directors of the company has considered and approved the acquisition by the company of 100 per cent of the fully paid up equity share capital of ."
This would mean the acquisition of 27 aircraft fleet for about Rs 2,450 crore, a price significantly lower than the valuation of upto one billion dollar that Air Sahara had done through Ernst and Young.
A formal announcement of the agreement is to be made today, making the amalgamation the biggest airline in the country.
In its communication jet informed that "The board of directors of the company has considered and approved the acquisition by the company of 100 per cent of the fully paid up equity share capital of ."
This would mean the acquisition of 27 aircraft fleet for about Rs 2,450 crore, a price significantly lower than the valuation of upto one billion dollar that Air Sahara had done through Ernst and Young.