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Jet-Sahara deal may take some more time
Special Correspondent
NEW DELHI:
After much turbulence, the Jet Airways-Air Sahara deal still remains to be sealed. Hectic parleys between the top management officials of the two private carriers were on till Thursday evening to sort out several crucial issues relating to the deal, the biggest in the Indian civil aviation history.
Jet Airways Chairman, Naresh Goyal, along with the top officials of the airline flew in from Mumbai, and was huddled in meetings with Air Sahara officials. According to available indications, it may take some more time for clinching the deal and the next two to three days can turn out to be crucial for both the private carriers.
Jet escrow account
Sources from both the carriers, who have remained in the thick of the deal, were inclined to believe that one of the issues could be the effort of Jet Airways to bring down its offer from Rs. 2,300 crore to about Rs. 1,200 crore.
Sources said that Air Sahara President, Ronojoy Dutta, Executive Vice-President, Alok Sharma, and Subrata Roy's elder son, Seemanto Roy, were involved in attempts to resolve the pending issues from Sahara's side, while Jet Executive Director, Saroj Datta, Vice-President, Vic Dungca, along with others were participating in the talks.
Officials of the two sides also visited the Civil Aviation Ministry, where discussions reportedly focussed on whether, in case of air traffic rights of Sahara not being transferred to Jet post-merger, this would warrant a discount in the deal. Also, looming large in the background was the expiry of the escrow account, opened by Jet, on Friday.
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