Deals
Jet Airways Is Said to Look Again to Tata Group for Rescue
- Cash balances of the carrier said to run-out within a month
- Etihad talks are said to stall on demand Goyal cede control
A Jet Airways India Ltd. aircraft prepares to land at Chhatrapati Shivaji International Airport in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Jet Airways India Ltd. is running out of money, forcing it to weigh re-starting bailout talks with Tata Group, the nation’s biggest conglomerate, according to people with knowledge of the matter.
While its founder and Chairman Naresh Goyal has been discussing a deal with Etihad Airways PJSC, talks with the foreign partner stalled over the latter’s demand that Goyal step aside from his management role, the people said, asking not to be identified as the discussions are private. With Jet Airways set to run out of cash in about a month, the carrier is now looking to restart talks with the Tata Group, they said.