Originally Posted by jumpdrive
No merger for Indian state airlines
Kingfisher Airlines has pulled out of the race to acquire Indian domestic carrier Air Sahara. Jet Airways is now the leading bidder. The stumbling block in the takeover was the valuation by consultant Ernst & Young, which valued Air Sahara at $750 million. Kingfisher had bid for $400 million, while Jet Airways had offered $550 million. Low-cost carrier SpiceJet has also ruled out interest in Air Sahara.
According to the news I read in the morning, Jet Airways bought Air Sahara..