MUMBAI/
CHENNAI: Japan's All
Nippon Airways (ANA)
has reportedly held talks with GoAir and SpiceJetBSE 2.96 % for a stake purchase. ANA spokesperson RyoseiNomura, however,
told TOI over phone, "We do not offer comments on such media
queries." A detailed questionnaire seeking details of ANA's interest in
the two Indian carriers remained unanswered till the time of going to press.
Repeated calls and an e-mail query to Jeh Wadia, MD of GoAir, elicited no response. Sun Group's CFO S L Narayanan said in an e-mailed statement, "Some strategic investors have evinced interest in speaking to the company; however, we can neither confirm nor deny the names of any specific carriers, given the uncertainties of a viable transaction fructifying."
Narayanan, sources said, is spearheading the talks with ANA. Phone calls to Anand Rathi Financial Services CEO Praveen Chakravarty went unanswered. Ever since India relaxed ownership rules, allowing foreign carriers to buy up to 49% stake in domestic airlines, the sector has been buzzing with news of mergers and acquisitions. Jet AirwaysBSE 1.85 % and the grounded Kingfisher AirlinesBSE 2.19 % have been in stake-sale talks with Etihad Airways. However, the former is expected to clinch the deal with the Abu Dhabi airline soon.
Sources said that ANA also had discussions with Kingfisher Airlines but made no substantive progress. Malaysia's AirAsia too is exploring opportunities in India following the change in norms. SpiceJet has had an head-start in its talks with ANA but there has been no direct meeting between media tycoon and Sun Group founder Kalanidhi Maran yet.
Industry observers said several domestic carriers looked at raising funds from private equity firms, but have altered plans, preferring to settle down with a strategic investor. SpiceJet has had talks with private equity funds like Olympus Capital and TPG Capital and is now looking at strategic investors. GoAir too was looking at private equity money some time ago.
Repeated calls and an e-mail query to Jeh Wadia, MD of GoAir, elicited no response. Sun Group's CFO S L Narayanan said in an e-mailed statement, "Some strategic investors have evinced interest in speaking to the company; however, we can neither confirm nor deny the names of any specific carriers, given the uncertainties of a viable transaction fructifying."
Narayanan, sources said, is spearheading the talks with ANA. Phone calls to Anand Rathi Financial Services CEO Praveen Chakravarty went unanswered. Ever since India relaxed ownership rules, allowing foreign carriers to buy up to 49% stake in domestic airlines, the sector has been buzzing with news of mergers and acquisitions. Jet AirwaysBSE 1.85 % and the grounded Kingfisher AirlinesBSE 2.19 % have been in stake-sale talks with Etihad Airways. However, the former is expected to clinch the deal with the Abu Dhabi airline soon.
Sources said that ANA also had discussions with Kingfisher Airlines but made no substantive progress. Malaysia's AirAsia too is exploring opportunities in India following the change in norms. SpiceJet has had an head-start in its talks with ANA but there has been no direct meeting between media tycoon and Sun Group founder Kalanidhi Maran yet.
Industry observers said several domestic carriers looked at raising funds from private equity firms, but have altered plans, preferring to settle down with a strategic investor. SpiceJet has had talks with private equity funds like Olympus Capital and TPG Capital and is now looking at strategic investors. GoAir too was looking at private equity money some time ago.
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