The Jet Airways-Air Sahara deal between Naresh Goyal and Subrata Roy has been finalized after one day of the arbitration panel meeting. With this agreement, a long legal battle has been ended. According to the reports, Naresh Goyal has agreed to offer of Rs 1,500 crore in cash to buy once its rival, Air Sahara. Both airlines would possibly announce about this deal today.

Naresh Goyal, who has the experience of 36 years in aviation sector, had earlier made it clear that he would reconsider on the Jet-Sahara deal. But, Goyal, reportedly, has made the takeover as sweet deal for himself by managing to reduce the price by nearly Rs 700 crores to Rs 1,500 crores.

After this takeover, The Jet airways would acquire greater market share in India and would also provide a better lease of life to the loss making Air Sahara.

Earlier in June, Sahara had accused Jet Airways for not getting regulatory clearances in time and blamed Jet for taking attempt to sabotage the deal. Air Sahara was on the verge of facing big loss because of the delay in the deal.

Now, Jet airways has reduced the deal by almost 700 crore but the big question is that how much time and money Goyal would spend to turn this loss making airline into a comfortably profitable airlines when there is a neck-to-neck fight is going in aviation sector in India.

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