Delta Air Lines mulling stake in India’s Jet Airways
Leading Indian carrier Jet Airways saw a jump in its stock value on the back of reports Delta Air Lines is in initial talks to buy a stake.
Delta may buy up to 24% of stock, according to people familiar with the matter, reports said.
As reported by TravelMole last month, Indian-American Vinay Dube, a former Delta executive, was recently appointed Jet Airways’ new CEO.
The two airlines are also codeshare partners.
“Right now the focus is on strengthening commercial ties but there have been talks of a stake sale to Delta as well. They could go this way or that,” a source said.
Interestingly, one of Delta’s big rivals, Gulf carrier Etihad Airways, also owns a 24% strategic stake in the Indian airline.
When contacted, a Jet Airways spokesperson remained non-committal, saying said the airline would not comment on speculation.