Jet finalises name for subsidiary; awaits Govt celarance

New Delhi: After snapping up Air Sahara in a 500 million dollar deal, Jet Airways is likely to operate it as a wholly-owned subsidiary till regulatory and other clearances are granted to the acquisition process.
While the name of the 100 per cent subsidiary has been finalised, it will be announced only after it is approved by the regulatory authorities, including the Directorate General of Civil Aviation (DGCA), Jet Airways sources said.
Jet was also awaiting security clearances from the Home Ministry for at least ten of its officials, to enable them become members of the new Air Sahara board. Once security clearance is granted, the reconstituted board would meet to adopt a resolution to enable Jet operate Air Sahara as its wholly-owned subsidiary, the sources said. Till then, the two carriers would continue to operate as separate entities, they said.
06/04/06 Zee News

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