Jet can transfer Air Sahara's assets without trouble
Private carrier Jet will not face any problem for transferring its rival's assets such as aircraft and parking bays.india Updated: Apr 18, 2007 23:22 IST
Private carrier Jet Airways, which recently agreed to acquire Air Sahara in a Rs 1,450 crore deal, will not face any problem for transferring its rival's assets such as aircraft and parking bays.
"If they (Air Sahara) have aircraft, parking slots or landing slots or schedules, there are no issues. The policy is already in place and these can go to the next owner," Civil Aviation Minister Praful Patel told reporters here.
Responding to questions on Jet's takeover and plans to rename Air Sahara as 'Jetlite', he said: "Any company can change the name of the brand."
Maintaining that Jet Airways has not yet approached his ministry on these issues as yet, Patel said as per existing laws they would have to get security clearance only if the Board of Directors was changed or new entrants were included.
"But there are no problems relating to transfer of ownership," he said, adding these issues were settled months ago when the Jet-Sahara deal was in the process of getting finalised, but later fell through.
Jet Airways last week clinched the deal to acquire ailing rival Air Sahara for Rs 1,450 crore. The country's largest carrier also announced it would position the newly-acquired entity between a low-fare and full-service airline and brand it as 'Jetlite'.