Jet Airways is planning to float a new entity - Transjet - to house all Air Sahara flights, operations and staff.
The airline is offering a limited number of tickets, with the cheapest one coming at a 91 per cent discount provided passengers plan their travel 30 days or more in advance.
Air Sahara on Wednesday filed a caveat in the Supreme Court to prevent Jet Airways from getting an ex-parte order on its transfer petition, which is likely to be filed on the same day.
In the biggest aviation takeover in India, Jet Airways has struck a deal to buy Sahara Airlines for Rs 2,300 crore (Rs 23 billion), a move that would help Naresh Goyal promoted carrier to become the biggest domestic carrier.
The private carrier won the rights for sponsorship of the Indian cricket team for the next four years.
In a bid to fill unutilised capacity, Air Sahara has announced a short-term scheme 'stand-by sixer' for six flight coupons to be purchased till November 15 for travel on any six sectors of the airline's route network.
As part of marketing initiatives in domestic aviation, Air Sahara has announced four more schemes to attract passengers, offering them four economy class tickets at Rs 24,000 and six tickets at Rs 33,000.
Air Sahara on Monday announced the sale of 2006 Delhi-London return tickets at a very low Rs 10,000 on first-come, first-served basis
Jet has paid Rs 400 crore, which it was required to pay by April 20 to the promoters of Air Sahara. This marks the closure of the deal, company sources said.
Private domestic airline Air Sahara said on Monday it would induct 12 aircraft this year, including seven Bombardier and five Boeing aircraft, at about $45 million to start new flights and add new destinations in the country.
In a new twist to their battle, Air Sahara on Wednesday informed a Lucknow court that Jet Airways has terminated the takeover agreement.
Jet Airways Chairman Naresh Goyal said this price represents a 40 per cent discount to the originally agreed price.
The long-standing dispute over Jet Airways buying out Air Sahara appears to be heading for a solution with the arbitration panel set to give its final order on Wednesday.
Private carrier Air Sahara on Wednesday announced the launch of its Delhi-London flight from January 6 with a lucrative promotional package of a free return ticket on its domestic network or a to and fro trip to Singapore.
Taking forward the competition in airfares by targeting the AC two-tier train passengers, Air Sahara on Monday launched its 'Surprice' scheme introducing the first advance purchase (Apex) return scheme and reducing the fares by almost 30%.
From November 12, Vistara aircraft will be operated under Air India's banner, identifiable by a special four-digit flight code beginning with '2'. For example, flight UK 955 will become AI 2955, making it easier for customers to recognise when booking on airindia.com after this date.
Air Sahara, whose ranking took a hit after a failed takeover deal, on Thursday announced operations to 14 new destinations including two international routes.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
Air Sahara on Thursday announced that it would launch its international operations between April and July and change its colour to orange, white, green and blue from Friday.
Air Sahara on Monday said it would launch a non-stop service between Delhi and Chicago in agreement with a global carrier and another to London by September-October this year.
Contrary to speculation that it was seeking to revise downward the value of Air Sahara, Jet Airways' move to make part payment till the pendency of other issues demonstrated its strong desire to acquire the rival airline.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
Air Sahara offers Singapore Discovery packages. It will soon launch a Chennai-Kuala Lumpur and Delhi-Chicago service and two weekly flights to London.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
Jet Airways' $500-million deal to takeover Air Sahara got a boost on Monday with the home ministry giving security clearance to four Jet officials to be on the board of Air Sahara.
Rival airlines expect Jet Airways to restore some "sanity" in the pricing of tickets after the acquisition of Air Sahara.
Moving from one employer to another is easier said than done for Air Sahara's crew, who are all dressed up in Jet Airways' colours but do not know where to go.
Air Sahara on Thursday started its Colombo-Bangalore flight, its second flight from India to Sri Lanka.
Private carrier Air Sahara will commence operations to Kuala Lumpur from March 19 and hopes to get government clearance to start services to the Middle East by January 2008, a top airline official said.
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