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India: Chairman snatches up majority stake in Jet Airways

By  |  May 24, 2013

Private carrier Jet Airways’ chairman Naresh Goyal has announced his purchase of a 29 percent stake in the company, purchased from a promoter entity. Goyal picked up the shares from Tail Winds Ltd., which is wholly-owned by Goyal. The news comes as Jet has made an agreement to sell 24 percent of its share to Etihad Airways as Goyal’s direct ownership of the company is raised to 51 percent through the most recent buyout. The Competition Commission of India is currently reviewing the deal between Jet and Etihad.

Full Content: Deccan Herald

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