Tatas confirm talks to buy Jet Airways; lenders to back the acquisition

Jet Airways is facing liquidity problems and has delayed payments to employees and vendors

The Tata Sons board on Friday discussed the proposal to buy a stake in struggling private carrier Jet Airways but did not take any decision on the acquisition.

The meeting, held at the Tata group headquarters, Bombay House, went on till late afternoon. Sources said the board was informed that the deal might take time as it was a complex transaction involving several stakeholders, including Etihad Airways, which owns 24 per cent in Jet Airways, and Singapore Airlines, which is Tata’s joint venture partner in Tata SIA Airlines.

Tata Sons said there had been growing speculation in the print and