Jet Airways puts off plans to raise $800 mn

Mumbai: The country's largest private sector carrier Jet Airways has deferred its $800 million capital-raising plans until market conditions are more conducive.
The airline had plans to raise the money either through FCCBs/ GDRs/ ADRs to fund the acquisition of 30 new narrow-body and wide-body aircraft over the next three years. "We are actively monitoring market conditions and will revive our efforts to raise additional capital as soon as a window of opportunity arises," said Jet’s chairman Naresh Goyal at the 14th annual general meeting of the company here. Meanwhile, the company has undertaken short-term borrowings from IDBI Bank, State Bank of India and ICICI Bank towards the pre-delivery payment on the new aircraft.
21/09/06 Financial Express

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