Amid reports of Jet Airways acquiring Air Sahara, one of the Left parties that supports the United Progressive Alliance government has alleged that the Sahara acquisition deal, along with a strategic alliance between Jet and Air Deccan, would result in one cartel controlling around 60 per cent of the domestic aviation market in the country.
In a 7-page letter to Finance Minister P Chidambaram and Law Minister H R Bharadwaj, RSP leader Abani Roy said that they should intervene immediately in this monopolistic attempt and motives to capture the Indian skies, which would not only be anti-competitive, but anti-consumer.
He also alleged that there was an unethical movement of share prices of Jet Airways and demanded a probe by the appropriate authorities into it.
"Looking at the sensitivity of the matter and the severe impact that it may have on small investors and consumers... in light of the reports that the deal would be signed on January 14, 2005, we urge you to kindly order a speedy investigation/probe into the points made above," Roy said in his letter.
He is also understood to have sent a copy of the letter to M Damodaran, chairman, securities and Exchange Board of India and executive directors of the Bombay Stock Exchange and the National Stock Exchange.
"As a relief to small investors and consumers, any attempt made by Jet Airways, Air Sahara and Air Deccan to enter into any kind of acquisition agreement or an alliance of any nature should be stayed till the investigation of all the above addressed bodies is completed," he said.
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