Jet Airways is to merge with Air Sahara. Lawyer Rustam Gagrat confirmed that the two airlines had agreed to revive merger talks that fell through last year.
DSK Legal advised the Sahara Group, and Gagrat’s law firm represented Jet Airways. In April, the two companies settled a number of disputes outstanding since last January and Jet Airways agreed to acquire all of the shares of Sahara for Rs14.5 billion (US$359m). The money will be paid in instalments leading to March 2008. Air Sahara executives originally demanded Rs18.75 billion (US$460m).
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