Blackstone Group reportedly mulling stake in Jet Airways’ loyalty programme
Blackstone Group LP is reportedly interested in buying a stake in Jet Airways’ loyalty programme JetPrivilege Pvt.
According to people with knowledge of the matter, the Blackstone offer values the business at about $429 million, although the size of the stake is unclear.
That would give some relief to troubled Jet Airways which may have to refinance about $400 million of debt just to stay afloat, says Kapil Kaul, South Asia CEO for CAPA Centre for Aviation.
However it is far from a done deal.
Etihad Airways owns 50.1% of JetPrivilege, and Blackstone will only go ahead if Jet Airways has secured adequate funding to guarantee its long term airline operations.
If a deal goes through, both Jet and Etihad would continue to hold a shareholding in the business.
JetPrivilege has about eight million members and made a profit last year.
The airline’s debt has ballooned to an estimated INR94.3 billion according to Bloomberg data.
Its shares have plunged more than 60% this year, giving it a market value of just $461 million.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Hands In, UATP join forces for airline multi-card payments
Suspension of all regional trains in Catalonia following two new rail accidents in Spain