Jet is planning a mammoth rights issue worth $400 million, the offer is still in its gestation period, and the issue is expected to come through in another 4-5 months according to director Mr. Vic Dungca.
$50 million from the proceeds would be used for Jetlite,the renamed Air Sahara which the company acquired after a prolonged legal tussle.The rest,according to the management, would be used to expand its existing fleet to 22 new aircrafts which would include 10 Airbus 330 and 10 Boeing 777.
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