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”.