Jet Airways refutes reports of merger with Tata SIA Airlines

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Jet Airways. (File Photo: IANS)
Jet Airways. (File Photo: IANS)

Dismissing the recent reports of a likely merger with Tata SIA Airlines, Jet Airways on Thursday said the news is “purely speculative” and that there was no such discussion in the company’s Board.

Tata SIA Airlines, a joint venture between Tata Group and Singapore Airlines, operates airline company Vistara.

“The subject news is purely speculative in nature and that there are no discussions or decisions by the Board…,” Jet Airways said in a regulatory filing.

About the surge in its share price, which analysts and investors attributed to the reports of the likely merger, Jet Airways said it was “unable to comment on the reasons for the increase in its share price”.

On Wednesday, the share price of Jet Airways rose Rs 63.20 or 24.52 per cent to close at Rs 320.95 per share.