Jet-Sahara deal will have to wait | Latest News India - Hindustan Times

Jet-Sahara deal will have to wait

None | By, New Delhi
Mar 31, 2006 05:04 AM IST

Govt will soon put up draft guidelines on Net for public debate on takeovers.

The Civil Aviation Ministry will prepare detailed guidelines on the transfer of infrastructure in case of mergers and acquisitions in the domestic aviation sector. As a first step it will seek public opinion from all stakeholders and concerned parties.

HT Image
HT Image

This comes against the backdrop of two impending merger and acquisition: Air-India with Indian (Airlines) and Jet Airways’s acquisition of Sahara Airlines.

Hindustan Times - your fastest source for breaking news! Read now.

Ministry sources said officials from the Directorate General of Civil Aviation (DGCA), Civil Aviation Ministry, Airports Authority of India and Finance Ministry met on Wednesday.

Civil aviation secretary Ajay Prasad told HT, “The acquisition committee meeting took place on Wednesday.”

Sources said the ministry or the DGCA would soon put up draft guidelines on the Net to invite public debate. Later, they will come out with the detailed guidelines. “There is every possibility that the Jet-Sahara deal will also be evaluated after the guidelines are enacted,” said a source.

While there was talk that the committee had given an in-principle approval to the Jet-Sahara merger, Saroj Dutta, executive director, Jet Airways, denied it. “We haven’t heard from the Government, in this case the DGCA or the aviation ministry,” he said.

The proposed guidelines will address issues like the transfer of ownership or the lease of aircraft, spare parts, insurance, lien, routes and landing slots.

Unveiling 'Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch Now!

Get Current Updates on India News, Narendra Modi Live Updates along with Latest News and Top Headlines from India and around the world
Share this article

    Arun Kumar is Senior Assistant Editor with Hindustan Times. He has spent two-and-half decades covering Bihar, including politics, educational and social issues.

Story Saved
Live Score
Saved Articles
My Reads
Sign out
New Delhi 0C
Sunday, March 03, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On