Monday, May 14, 2007

Right's issue worth $400 million on Jet's radar

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.

Read the full article here

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