Tuesday , May 17 2022

By default, the Tata-Jet agreement delay may hit Goyal



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Tata Sons President N Chandrasekaran was not keen to seize Air India – mainly because of some of the seizure requirements – pioneering negotiations with the Jet, believing that the purchase would help Tatas scale up in the aviation industry . and from a nonsense to a dominant player.

As reported by TOI on November 15, the agreement will give the country a unified market share of 24% in the country. Jet has a market share of 16% and 14% in international markets with the fleet of 124 aircraft. Air Asia India and 22 fleet Vistara have around 4% market shares in the country; What works internationally. The process will also provide a wide range of networks and nests in the dense airports around the world.

Naresh Goyal, with 51%, and 24%, Jet Airways, where Abu Dhabi is a major shareholder of Etihad, looks into the financial markets in the coming days. Jet Airways stocks closed four months ahead of Tata Sons' announcement and ended Rs 347 in BSE.

Friday's board meeting has a strong impact on the dealers in the Bombay House, while Goyal and the airline have more concerns. Jet has postponed salaries and the vendor has defaulted on its payments and some of the planes that it hires may be in danger of being lost again.

According to the Tata Sons' Articles of Association, an important purchase offer such as Jet or investments with more than 500 crest requires support from the majority of Tata Trusts candidates. Currently, on the board of Tata Sons-Amit Chandra, after Bain Capital, Vijay Singh and Nitin Nohria have a single Trusts nomination after their resignation. In addition to Chandra and Chandrasekaran, there are five external members on the board, two industrialists, Ajay Piramal and Venu Srinivasan, and three Tata managers.

Jet Airways, which is a major shareholder of Etihad with 24% and Goyal and Abu Dhabi with 51%, looks into the financial markets in the coming days. Jet Airways stocks closed four months ahead of Tata Sons' announcement and ended Rs 347 in BSE.

Friday's board meeting has a strong impact on the dealers in the Bombay House, while Goyal and the airline have more concerns. Jet has postponed salaries and the vendor has defaulted on its payments and some of the planes that it hires may be in danger of being lost again.

The American purchasing investor TPG is undermined, but Indian legislation has concerns about control issues, as it limits its foreign ownership to 49%. Delta Airlines has discovered earlier this year that they invested in a combination of Jet and Air India, but they quickly abandoned the idea and said bankers were familiar with the developments.

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