Synergy ready to take majority stake in Jet Airways, but conditions apply

NEW DELHI : Synergy Group Corp., one of the three potential investors for Jet Airways (India) Ltd, is willing to take a majority stake in the grounded airline if lenders agree to take a deep haircut and convert their debt into equity, a representative of the South American company said.

“We are consulting lawyers and exploring (whether) Synergy Aerospace as a financial investor can take a majority stake in Jet Airways,” Antonio Guizzetti, president of Washington-based Guizzetti & Associates, legal adviser to Synergy Group on the Jet Airways acquisition, said in a phone interview. Synergy Aerospace wants to take a 51% stake in the airline, he added.

Synergy runs several airlines in South America, including Colombian carrier Avianca Holdings, the region’s second largest airline.