The board meeting of Tata Sons held here on Friday to discuss the possibility of investment in Jet Airways (India) Ltd. ended without approving any such proposal.
The Tatas have, however, admitted that such discussions were at preliminary stage. Speculations have been rife that the Tata Group, which operates two airlines — Vistara and AirAsia India in joint venture — would acquire controlling stake in Jet Airways, which is seeking fresh investment to tide over a financial crisis.
The Jet Airways stock closed with a gain of 8% at ₹346.85 on the BSE on Friday.
Reports had also indicated that the Tatas had been asked by the Prime Minister’s Office (PMO) to consider bailing out Jet Airways to save jobs and ensure continuity of operations of the airline.
“Over the last few days, there has been growing speculation in the media about Tata’s interest in Jet Airways. We would like to clarify that any such discussions have been preliminary and no proposal has been made,” Tata Sons said in a statement after the board meeting.
