The Tatas on Friday confirmed their interest in Jet Airways for the first time but said it was yet to come up with a concrete plan to acquire the country’s largest full-service carrier.

In a statement Tata Sons said it had held only “preliminary” discussions on the matter. The admission came after a keenly watched board meeting of the group holding firm where the matter was expected to be discussed.

Sources told The Telegraph that the meeting was pre-scheduled, dismissing speculation that it was solely called to discuss the acquisition of Jet Airways.

While other matters were also taken up, it is learnt that Tata Sons executive chairman N. Chandrasekaran apprised the board of the group’s interest in the airline.

“We would like to clarify that any such discussion to take over Jet Airways has been preliminary and no proposal has been made,” the statement said.

The sources added that no proposal for acquisition has been made either to the airline or to the board and even due diligence was yet to begin.

“For even vetting the books (due diligence), they need to sign a preliminary agreement. It has not even reached that stage,” the sources said.

The statement from Tata Sons may dampen sentiments in the Jet Airways counter as it implies that it will take some time for the acquisition to take place. The stock has been on fire since reports indicated that talks between the two parties were progressing well and that the only stumbling block of the Tatas obtaining full management control had been resolved after promoter Naresh Goyal agreed to retain only a small stake.

The merger talks have sent the Jet Airways stock soaring over 40 per cent in the past five trading sessions. On Thursday, it zoomed over 26.41 per cent, while it rallied over 14 per cent on Friday. However, the stock pared these gains to close 8 per cent higher at Rs 346.85 on the BSE.

There are also reports that the government is keen that the Tatas acquire the cash-starved airline. However, the Centre has denied that it wants the deal to be consummated or has asked bankers to take a haircut on Jet Airways debt to make it more attractive.

“The aviation ministry is not involved in this process so far. Hence any question of a haircut (by banks and other stakeholders like Airports Authority) does not arise,” aviation secretary R.N. Choubey told PTI.