Modi govt asked Tata to explore buying stake in Jet, rescue airline: Report

Tata Sons in talks with government about potential haircut to state-run banks on Jet's loans

Prime Minister Narendra Modi's government has sought Tata Sons Ltd's help to rescue struggling Jet Airways India Ltd, people familiar with the matter said.

Tata Sons is in talks with the government about a potential haircut to state-run banks on Jet's loans while Airports Authority of India may forego some of its dues, one of the people said, asking not to be identified as the discussions are private. The Tata Sons' board is due to deliberate on the matter on Friday, the people said.

Tata spokesman declined to comment while aviation ministry spokesman did not answer multiple calls and a text message sent to his mobile phone.

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