Jet Airways, Air Sahara ready for take-off

NEW DELHI: Jet Airways–Air Sahara deal is more or less sealed. Both, the companies’ top brass will submit the final documents detailing the deal that enables Jet Airways to buy out Sahara to the Arbitration panel later this evening.

Sources divulged that the Jet Airways – Sahara officials will meet the arbitration panel at 5.30 pm at Mumbai before formally making an announcement later in the today.

It is learnt that Jet Airways has agreed to pay Rs 1850 crore to buy out Sahara led by Subrata Roy. This is far less than the price offered nine months ago when the tag was around Rs 2500 crore. Formal announcement by Jet Airways chief Naresh Goyal and Sahara’s Subrata Roy would be a culmination of the biggest aviation deal that was once shelved.

At one point of time, Kingfisher Airways led by Vijay Mallaya had also considered buying out Air Sahara which did not work.