Jet Airways not to partcipate in divestment Air India
Written by : SMTV24x7 | Wed, Apr 11, 2018, 12:52 AM
Mumbai, April 11: Airline major Jet Airways on Tuesday said that it will not participate in the divestment process of national carrier Air India.
"We welcome the government move to privatise Air India. It is a bold step.
"However, considering the terms of offer in the information memorandum and based on our review, we are not participating in the process," Amit Agarwal, Deputy CEO and CFO, Jet Airways was quoted in a statement.
The development assumes significance as it comes days after another airline IndiGo on April 5 had said that it will not bid for Air India under the "current divestiture plans".
Jet Airways had never officially said that it was interested in Air India, but IndiGo had earlier expressed its interest in the acquiring Air India's international operations and Air India Express (AIXL).