TPG Capital in talks to invest in India's Jet Airways: sources

Private equity firm TPG Capital is considering investing in India's Jet Airways Ltd but is not close to finalising a deal, two sources with knowledge of the matter said, a plan that could raise money for the beleaguered airline. The investment could be more than $100m but discussions are at an early stage and the size of the stake and the investment are not clear yet, the sources said. Jet Airways has said it is confident of cutting costs and keeping its planes flying. TPG is looking to buy a stake in Jet Airways' frequent-flyer loyalty programme and has appointed Morgan Stanley to advise on the potential deal, the Mint newspaper reported Monday, citing sources. The deal with TPG could value the loyalty programme, Jet Privilege Private Ltd, at $400m, adding that Jet continues to engage with Blackstone Group for a similar deal.<br/>