U.S. Blackstone in talks to buy India’s Jet Airways loyalty arm

U.S. private equity firm Blackstone is in talks to acquire a stake in the frequent-flier loyalty program of an Indian airlines company, Jet Airways.

A potential deal could value the loyalty programme, Jet Privilege Private Ltd, between 30 billion rupees and 40 billion rupees ($428 million-$572 million) and would be dependant on Jet Airways securing adequate funding for its airline operations.

The company was considering various options on priority to meet its funding requirements on stake sale or plans to monetize its investment in its frequent flier program as purely speculative.

Jet Airways and its partner Etihad Airways will remain investors in Jet Privilege even after a potential Blackstone transaction.