Financial Daily from THE HINDU group of publications
Sunday, Jan 22, 2006
Financial Daily from THE HINDU group of publications Sunday, Jan 22, 2006 |
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Corporate
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Mergers & Acquisitions Logistics - Airlines 'Ministry had no say in Jet-Sahara deal' Our Bureau
Mumbai , Jan. 21 THE Union Civil Aviation Minister, Mr Praful Patel, said his Ministry had no role in Jet Airways' acquisition of Air Sahara. It is for the Director-General of Civil Aviation, the regulator, and the Company Law Board to see whether the deal conformed to various rules and regulations, he told newspersons on Friday evening. The Civil Aviation Ministry would not take any view on this, since it would be seen as interfering with the independence of the regulator, he said. Responding to a question on the apprehensions expressed by certain quarters on the monopoly issue, Mr Patel said that there are 8-9 airlines currently operating in India and more are in the pipeline, as the sector is expanding and the licence rules have been liberalised. With the increase in the total pie, the share of the Jet-Sahara combine will come down, he said.
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