Deals
Blackstone in Talks for Stake in Jet Airways Loyalty Arm
- Indian carrier in race to raise cash after debt pile balloons
- Investment firm discusses valuation of 30-40 billion rupees
This article is for subscribers only.
Blackstone Group LP is in talks to buy a stake in the loyalty program of Jet Airways India Ltd., the troubled Indian carrier that’s exploring options to raise cash, people with knowledge of the matter said.
The private equity firm has expressed interest in a deal that could value Jet Privilege Pvt at about 30 billion rupees ($429 million) to 40 billion rupees, according to the people, who asked not to be identified because the information is private. Jet Airways has been seeking a higher valuation for the business, which is part owned by the Indian airline’s partner Etihad Airways PJSC, one of the people said.