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Jet Sahara Deal Rediff
Jet Sahara Deal Rediff
Jet Sahara Deal Rediff
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"While Rs 500 crore has already been paid, Rs 400 crore is payable immediately no later than
April 20. The balance of Rs 550 crore is payable in four interest free annual equal installments
commencing on or before March 30, 2008."
Soon after the deal was signed, a beaming Naresh Goyal, said: "It is a good deal which is going
to help us. We got a 40 per cent discount to the original price of Rs 2,300 crore (Rs 23 billion).
The deal is commercially viable since we are getting a lot of infrastructure and manpower areas where India is facing a lot of pressure now. The airline business has not changed so
dramatically... the deal makes complete economic sense."
The deal was signed after the panel comprising British Judge Lord Stein and Supreme Court
Justices S P Bharucha and Jeevan Reddy, vetted the draft proposal prepared by Jet and
Sahara.
The two then submitted a revised and final proposal to the three-member court-monitored
committee, sources close to the development said.
Pallabh Agarwal, executive director, Sahara Pariwar and the group's lawyer Jeffrey Gordon
were present on behalf of Sahara when the deal was signed, while the other side was
represented by senior counsel Harish Salve and Saroj Dutta, besides Jet Chairman Naresh
Goyal.
The development came three days into a week-long, court-monitored arbitration between Jet
and Sahara over the original failed merger in 2006.
Jet Airways is understood to have gone ahead with the deal, as otherwise there was a
possibility of it losing at least Rs 500 crore to Air Sahara.
The deal would give Jet more than 32 per cent share of the domestic aviation market and add
at least 27 aircraft to its 62-aircraft fleet, in addition to prime landing and take-off slots at
major airports such as London Heathrow, New Delhi and Mumbai.
It would become the only privately owned Indian airline with permission to fly overseas.
http://www.rediff.com/money/2007/apr/12jet1.htm
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22-05-2016
Jet finally buys Air Sahara for Rs 1,450 crore - Rediff.com Business
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Shares of Jet Airways on Thursday recovered after a continuous fall on the BSE to gain over 2
per cent amid the acquisition proceedings for Air Sahara.
5 terrorists killed,
2 jawans injured
in encounter in
Kupwara
The scrip touched an intra-day high of Rs 624.90 and was trading at Rs 616 on the Bombay
Stock Exchange.
Moneywiz Live!
Jet Airways founder and chairman Naresh Goyal addresses the media in Mumbai after
clinching a deal to take over Air Sahara.
BSE 25,301.90
-97.82
9:00
-33.70
9:00
NSE 7,749.70
16:00
16:00
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Additional Inputs: BS
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Jet finally buys Air Sahara for Rs 1,450 crore - Rediff.com Business
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sahara deal
by Anusha R (View MyPage) on Apr 12, 2007 06:13 PM | Hide replies
NO - Sahara was not just a deal for Jet - It helped them becoming larger and larger capturing most of the routes and
killing the competition from Sahara - now they will raise the fares of Sahara too, making the passengers no other
choice, but to fly at the cost decided by Jet.
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RE:sahara deal
by Anusha R (View MyPage) on Apr 12, 2007 06:50 PM
Shailesh - there are certain routes Sahara only caters to with low cost..that is what I meant
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22-05-2016
Jet finally buys Air Sahara for Rs 1,450 crore - Rediff.com Business
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