Jet Airways is reported to have begun a formal stake-sale process to raise $350-400 million from global private equity firms. Local media sources suggest that Blackstone, TPG, Cerberus Capital Management and Indigo Capital Partners have been targeted by the airline as possible investors but this has not been confirmed by any of the named parties. The beleaguered airline is also said to be seeking to monetise its frequent flyer programme it co-owns with Etihad Airways. Jet Airways debts may be off putting for most investors, which totalled Rs 8,150 crore (approx. $1.16bn) on March 31, with losses continuing to mount.

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