Jet Airways Plans Rights Issue By January

Mumbai: Jet Airways (India) Ltd. Thursday said it plans to raise over $400 million through a rights share issue in December or January.
"The funds will be used to ensure that the company's financial gearing remains healthy," Jet Airways Chairman Naresh Goyal said, addressing an annual meeting of the company's shareholders.
Goyal said the company has also selected its bankers for the issue, which was originally scheduled for October, but had to be postponed due to rising global interest rates.
Earlier this month, Goyal said he expects the airline to raise the funds to reduce debt, meet working capital requirements and fund expansion plans.
27/09/07 Dow Jones/CNNMoney.com

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Categories: Jet Airways Sep 2007