Jet Airways extends Sahara takeover talks

Jet Airways and Sahara Airlines agreed to extend talks for a further three months to complete the takeover by Jet of Sahara in an all-cash 500 mln usd deal, officials told Associated Press. Jet chairman Naresh Goyal said the company hopes to complete the buyout within the extended period, creating a company with almost half the domestic airline market.

‘Jet Airways and Sahara have mutually agreed to a three-month extension of the agreement late Thursday,’ spokeswoman Nandini Verma said following a meeting of executives.