Tata bye bye

Why the Tata group buying Jet would have been the best outcome for all

As the weeks went by, it became increasingly evident that the Tata group is unlikely to be the new owner of Jet Airways. Matters were still not sealed but whoever I have spoken to said that the short fling was over. The Tata group’s insistence on keeping chairman and promoter Naresh Goyal’s stake to below 10 per cent and offering only one board seat (for his son and not him) was the deal breaker.

When I first read that the Tatas were exploring buying a stake in Jet Airways provided they could nudge Goyal out of it, I thought they had