Delta Airlines eyes minority stake in Jet Airways

Delta Airlines has evinced interest in buying a 24 per cent stake in Jet Airways which is currently facing a financial crisis. In addition to buying the stake, Delta will also infuse capital into the airline. Delta Airlines will be purchasing Etihad’s minority share while the remaining 51 per cent is likely to be taken over by the Tata Group, which is also in discussions with the airline. In a separate move, Jet Airways has appointed McKinsey & Co. to formulate a turnaround plan for the airline. The plan will include cost-cutting measures across functions. It has also roped in the Boston Consulting Group to help with revenue enhancement measures.