Jet Airways-Air Sahara deal doubtful

Mumbai, June 20 (UNI) With just two days left for the expiry of the escrow account, the much-touted Rs 2,300 crore (US 500 million dollar) deal signed by the Jet Airways to acquire Air Sahara appears to have run into trouble for want of neccessary security clearance.

Jet Airways, which has been virtually operating Air Sahara since April, however, had paid a further advance of Rs 500 crore to keep the deal on.

Though Jet Airways officials are tight-lipped, sources in the airline said anything could be worked out till the expiry of the period. One of the options could be a further extension of the deadline of the escrow account, the sources added.

The escrow account deadline was extended by three months in March, they said.

There has been x x x Eds: here pick up from line one, para six, of DC 20 AVIATION-JET-SAHARA.

UNI JM SSS AK RR DB2154