Jet Airways To Buy Air Sahara For USD$340 Million
12 April 2007India’s Jet Airways said on Thursday it had agreed to buy Air Sahara for INR14.5 billion rupees (USD$340 million), about 34 percent cheaper than an earlier deal it had abandoned.
The price includes INR5 billion that Jet had paid its smaller rival last year as a bank guarantee pending an acquisition, as well as INR4 billion that Jet will pay on or before April 20, said Harish Salve, a legal counsel for Jet.
The balance will be paid in equal, interest-free annual installments from March 2008 to 2011, he told reporters.
source: Airwise
