Thursday, March 23 2006 10:52 Hrs (IST) - World Time -

Mumbai: Uncertainty over the Rs 2,300 crore deal by Jet Airways to acquire Air Sahara continued yesterday(Mar 22,2006) amid indications that a meeting of top officials of the two airlines could happen any time now.

"There should be a meeting before March 24" when the escrow account opened for the acquisition expires, Jet Airways Executive Director Saroj Dutta told sources when specifically asked about the likelihood of a meeting between Sahara Group chief Subroto Roy and his Jet Airways counterpart Naresh Goyal.

However, he was not forthcoming on when and where such a meeting would be held.

Dutta also refused to confirm whether the two sides had agreed in principle to get the transaction deadline extended beyond March 24.

Air Sahara is yet to get a clearance from the Directorate General of Civil Aviation for effecting the buyout and the two sides may consider extending the transaction date beyond March 24. The issue of security clearance of Jet Airways nominees to the Air Sahara Board is also awaiting clearance from the Union Home Ministry.