Citigroup is bearish on Jet Airways and has recommended sell rating on the stock.

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Though the news of the takeover of Air Sahara by Jet Airways is yet not official, in all probability, it is a struck deal . Nine months after calling it off, Jet Airways is understood to have negotiated a takeover of Air Sahara, at a much lower price than the $500 million (Rs.2300 crores) offered in January 2006. Read the rest of this entry »

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NEW DELHI: IN A move that would enable carriers like Jet Airways and Air Sahara to operate flights to the lucrative Gulf sector, the government is planning to open up this market to private airlines early next year. The Gulf route, which has been reserved for state-owned Air India and Indian till now, is likely to see private competition in January 2008. The sector, which includes the United Arab Emirates (UAE), Qatar, Oman, Bahrain, Kuwait and Saudi Arabia, is an important source of revenue for the two national carriers. The move is significant for Jet Airways, which is said to be keen on starting operations to the Gulf countries. Read the rest of this entry »

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