Jet Airways studying market for rights issue

Mumbai: The private airline`s Chairman Naresh Goyal also says that he would sell up to a 10% stake in Jet Airways to select investors prior to the Rights Issue.
Jet Airways India Ltd. will go for the proposed Rights Issue at an appropriate time, provided market conditions are right, the private airline's chairman Naresh Goyal said on Thursday. India's largest private sector carrier had earlier said it will launch the issue by the end of June.
"We do not want a distress sale. We will wait for the right time," Goyal said at a news conference in Mumbai while announcing the launch of operations to Hong Kong, San Francisco via Shanghai, Muscat and Abu Dhabi. "We are watching the market...it has to settle," he said.
Goyal also said that he would sell up to a 10% stake in Jet Airways to select investors prior to the Rights Issue. It may be recalled that Jet Airways had last year put the Rights Issue and placement on hold because of the turmoil across global financial markets.
03/04/08 India Infoline

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Categories: Jet Airways Apr 2008