In the wake of Jet Airways-Air Sahara merger, the Ministry of Civil Aviation is planning to formulate guidelines on acquisitions and mergers of airlines.
"We are examining the possibility to formulate policy guidelines on mergers and acquisitions of airlines. This will be a common guidelines for all domestic airlines and will not be particular to any deal," Civil Aviation Minister Praful Patel told reporters in Mumbai.
Speaking on the sidelines of a reception organised by Nationalist Congress Party, Patel said the government would examine best global practices of infrastructure allocation and other details in the wake of acquisitions and mergers.
Asked about the timeframe, the minister added that the government has been working on this while no timeframe has been fixed.
Patel pointed out that the government has not received any formal proposal for the merger of Air Sahara with Jet Airways.
Jet Airways had acquired Air Sahara for $500 million in an all cash deal early this year. Asked about the automatic trasfer of land and other support systems to Jet Airways, Patel said the proposed guidelines will look into these matters.
Chairman of Jet Airways Naresh Goyal, at the time of announcing acquisition, had said that the infrastructure and parking slots at the airports of Air Sahara would be transferred to Jet Airways.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
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