GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

TPG Capital Joins Race to Buy Stake in Jet Privilege: Report

The deal with TPG could value the loyalty programme, Jet Privilege Private Ltd, at $400 million, adding that Jet continues to engage with Blackstone Group for a similar deal.

Reuters

Updated:August 20, 2018, 9:45 AM IST
facebookTwittergoogleskypewhatsapp
TPG Capital Joins Race to Buy Stake in Jet Privilege: Report
Jet Airways (FILE PHOTO)
Loading...
Private equity firm TPG Capital is looking to buy a stake in the frequent-flyer loyalty programme of debt-laden carrier Jet Airways (India) Ltd, the Mint newspaper reported on Monday, citing sources.

Jet has appointed Morgan Stanley to advise on the potential deal, the report added.

The deal with TPG could value the loyalty programme, Jet Privilege Private Ltd, at $400 million, the newspaper said, adding that Jet continues to engage with Blackstone Group for a similar deal.

The deal with Blackstone could value the programme between 30 billion rupees ($428.02 million) and 40 billion rupees and would be dependant on Jet Airways securing adequate funding for its airline operations, Bloomberg reported last week.

The airline, which is part-owned by Etihad Airways, told stock exchanges last week it continues to "evaluate all possible alternatives to ensure optimum utilisation of its fleet".

Jet and TPG Capital did not respond to a request for comment while Blackstone and Morgan Stanley were not available outside business hours.
| Edited by: Naqshib Nisar
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Jet Airways 320.90 24.43
Yes Bank 205.85 -7.44
ICICI Bank 370.00 0.93
Maruti Suzuki 7,478.30 1.48
Reliance 1,096.85 -0.10
Company Price Change %Gain
Jet Airways 320.95 24.52
Motherson Sumi 143.05 -6.87
Yes Bank 206.00 -7.42
Maruti Suzuki 7,482.85 1.50
Apollo Hospital 1,265.65 8.53
Top Gainers
Company Price Change %Gain
Adani Ports 346.20 4.28
Titan Company 920.80 3.21
Eicher Motors 23,945.35 3.03
Kotak Mahindra 1,162.25 2.86
Hero Motocorp 2,922.15 2.62
Company Price Change %Gain
Adani Ports 345.50 4.25
Kotak Mahindra 1,159.00 2.61
Hero Motocorp 2,910.00 1.95
Axis Bank 625.65 2.11
Tata Motors 179.60 1.58
Top Losers
Company Price Change %Gain
Grasim 808.70 -7.72
Yes Bank 205.85 -7.44
Indiabulls Hsg 804.85 -4.10
NTPC 153.80 -2.26
Bharti Infratel 255.40 -1.79
Company Price Change %Gain
Yes Bank 206.00 -7.42
NTPC 154.00 -2.10
ONGC 158.20 -1.59
HUL 1,705.60 -0.73
Sun Pharma 514.95 -1.04

Live TV

Loading...
Loading...