Jet Airways has sought the approval of shareholders to raise up to $300 million (about Rs 1,843 crore) through issue of securities to Etihad on a private placement basis.
UAE-based Etihad Airways PJSC holds 24 percent stake in the domestic carrier.
Jet Airways plans to raise up to $300 million through the issue of securities to Etihad, according to a postal ballot notice sent to its shareholders seeking their approval for the proposal.
It has sought nod “to offer, issue and allot secured and/ or unsecured, listed and/or unlisted non-convertible debentures and/or subordinated debt instruments and/or other debt securities or bonds for an aggregate value of up to $300 million on a private placement basis to Etihad Airways...”, the notice said.
During the quarter ended September 2014, Jet Airways had reported 96 percent reduction in net losses on a one-time income by way of sale of JPmiles to Etihad.
24/01/15 First Post
To Read the News in full at Source, Click the Headline
UAE-based Etihad Airways PJSC holds 24 percent stake in the domestic carrier.
Jet Airways plans to raise up to $300 million through the issue of securities to Etihad, according to a postal ballot notice sent to its shareholders seeking their approval for the proposal.
It has sought nod “to offer, issue and allot secured and/ or unsecured, listed and/or unlisted non-convertible debentures and/or subordinated debt instruments and/or other debt securities or bonds for an aggregate value of up to $300 million on a private placement basis to Etihad Airways...”, the notice said.
During the quarter ended September 2014, Jet Airways had reported 96 percent reduction in net losses on a one-time income by way of sale of JPmiles to Etihad.
24/01/15 First Post
