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Jet buys Air Sahara

Jet buys Air Sahara

Jet Airways has signed a deal to buy all equity shares for Air Sahara for a lumpsum payment of Rs 1,450 crore. Harish Salve, the legal representative of Jet, said Rs 400 crore has to be paid to Air Sahara before April 20, 2007. Since Jet has already paid Rs 500 crore to Air Sahara, the remaining Rs 550 crore would be paid in four, interest-free installments commencing on or before March 30, 2008.

Last Updated: Apr 12 2007 | 12:00 AM IST
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Jet Airways has signed a deal to buy all equity shares for Air Sahara for a lumpsum payment of Rs 1,450 crore. Harish Salve, the legal representative of Jet, said Rs 400 crore has to be paid to Air Sahara before April 20, 2007. Since Jet has already paid Rs 500 crore to Air Sahara, the remaining Rs 550 crore would be paid in four, interest-free installments commencing on or before March 30, 2008.

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