Cash strapped Jet Airways has approached non-banking financial companies (NBFCs) to raise around Rs 1,500-2,000 crore by monetizing forward sales, according to a report in The Financial Express.
Simply put, bookings made through credit cards will go to the concrened NBFC. This may help the airline raise funds immediately to continue its operations.
The airline will in turn forgo bookings worth around Rs 1,600 crore to the NBFCs, the report said. The money made through bookings on the Jet Airways’ website will accrue to the NBFCs instead of the airline.
Jet Airways is also looking to raise $150 million against promoter shares, the report added.
17/08/18 moneycontrol.com
To Read the News in full at Source, Click the Headline
Simply put, bookings made through credit cards will go to the concrened NBFC. This may help the airline raise funds immediately to continue its operations.
The airline will in turn forgo bookings worth around Rs 1,600 crore to the NBFCs, the report said. The money made through bookings on the Jet Airways’ website will accrue to the NBFCs instead of the airline.
Jet Airways is also looking to raise $150 million against promoter shares, the report added.
17/08/18 moneycontrol.com
0 comments:
Post a Comment