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Our Bureau

New Delhi , Aug. 16

Air Sahara on Wednesday termed as `speculation' reports about any revival of merger talks or an out of court settlement with Jet Airways. " We find these reports a mere speculation. The disputes between Sahara and Jet are sub-judice and we do not wish to comment on any speculation. As of now, we are concentrating on further strengthening our operations," according to a statement issued by the airline. Jet Airways agreed to acquire Air Sahara for Rs 2,200 crore in January. However, the deal was called off in June, with Jet Airways claiming that certain "condition precedent'' had not been met forcing it to withdraw its earlier offer. Immediately thereafter both the airlines moved court. Air Sahara was keen on ensuring that Jet Airways not be allowed to withdraw the Rs 1,500 crore deposited in an escrow account in a Mumbai bank. The money was to be the final instalment that Jet Airways was to pay Air Sahara for sealing the buyout. The matter is now before the Supreme Court.

Other plans

Since the deal collapsed, Air Sahara has drawn up its own plans for expanding its domestic and international operations. In June, the airlines Chief Executive Officer, Mr Alok Sharma, announced that Air Sahara was to acquire two new Boeing 737-800 aircraft in August-September this year and two more aircraft by the year-end or early next.

"In addition, we have also committed to acquire 10 brand new Boeing 737-800 aircraft next year. The airline will now focus on increasing the revenue share in the market place," said Mr Sharma.

Besides, the airline recalled an Airbus A-330 aircraft that it had given to Jet Airways and plans to utilise it for operating regular non-stop flights between Delhi and London later this year.

More Stories on : Airlines | Jet Airways (India) Ltd

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