Clear mergers and acquisitions policy needed: Goyal

New Delhi: Jet Airways chairman Naresh Goyal said on Wednesday that the government needs to put in place a clear mergers & acquisitions (M&A) policy in civil aviation to avoid sickness in the industry.
This will prevent sick airlines from sinking, help save jobs and resources, he said, while expressing confidence that Jet’s takeover of Air Sahara will get the necessary clearances soon. In any case, the Air Sahara board has been reconstituted with the inclusion of former finance secretary Vijay Kelkar and lyricist Javed Akhtar — members of the Jet board.
“We will run Air Sahara as a subsidiary till regulatory approvals are obtained for the merger,” Mr Goyal told ET.
30/03/06 Economic Times

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