TPG Capital joins race to acquire Jet Privilege

TPG Capital joins race to acquire Jet Privilege

Sources not named by Reuters News claimed that TPG Capital has joined the race to acquire Jet Privilege, a frequent-flyer loyalty program of debt-laden carrier Jet Airways.

Sources claimed that the deal could value Jet Privilege at $400 million.

Reuters also reported that Blackstone Group was interested in the same deal

The medium reported that the deal with Blackstone could value the program between 30 billion rupees ($428.02 million) and 40 billion rupees and would be dependant on Jet Airways securing adequate funding for its airline operations, Bloomberg reported last week.

For the record, Jet Awhich is part-owned by Etihad Airways, told stock exchanges last week it continues to “evaluate all possible alternatives to ensure optimum utilization of its fleet”.