No probe of Jet-Sahara deal: MRTPC

B K Rathi, chairman of Monopolies and Restrictive Trade Practices Commission (MRTPC), today said the takeover of Air Sahara by Jet Airways "does not appear" to warrant any immediate probe.

"It does not appear to warrant any immediate probe as there seems to be no threat of any monopolistic or restrictive practice following the takeover," Rathi said.

He said the presence of other aviation companies like state-controlled Indian and private airlines like Air Deccan and Kingfisher Airlines meant that there could not be a monopoly of a single operator.

"The market share does not mean anything," Rathi said when pointed out that the new entity would command about 45% market share.

He said MRTPC will wait for the completion of the entire process related to the takeover including regulatory approvals. "All the formalities are yet to be completed, and only after that will we get details on the matter," he said.

Jet had announced a deal to take over Sahara Airlines for $500 million (about Rs 2,300 crore) in cash yesterday.