The Naresh Goyal-founded Jet, which is staring at default on payments, has sought an equity collaboration.
But Tata Sons, the parent of the $103 billion business behemoth, has sought management control.
The Goyals, own 51 per cent of Jet, retaining significant control.
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Reuters
In Jet's cockpit
People close to the talks said the Tata Group has made it clear to Jet representatives that it is interested in an outright purchase either of the entire company or its assets such as aircraft and other aviation-related infrastructure.
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Agencies
Cash-strapped Jet
Jet, which has delayed salaries to pilots and key executives, has been in talks with both strategic and financial investors to sell assets and a major chunk of its business to stay afloat.
It had informed stock exchanges of its plan to sell the frequent flyer business, JetPrivilege.
Texas-based private equity giant TPG Capital had also rejected a similar offer for part-ownership by Jet Airways.
The airline had two rounds of negotiations with TPG Capital, but the talks got stuck due to differences over controlling rights and Goyal’s demand for a role post acquisition.
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Reuters
Time for mergers and acquisitions
It is clear that Tata Sons is now ready to propel the group's aviation business through mergers and acquisitions.
Tatas had considered bidding for Air India when the national carrier was put on sale by the government, but it didn't go ahead with the bid finally.
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Agencies
Not for the first time
Jet and the Tatas had clashed when former Tata Sons chairman Ratan Tata first attempted entering into the aviation sector through a joint venture with Singapore Airlines in the late 1990s.
