Jet Airways to raise USD 150-200-mn over next 3-4-weeks

Last Updated: Tuesday, January 26, 2010 - 00:37

Mumbai: Jet Airways plans to complete its first tranche of fund-raising of around USD 150-200-million over the next 3-4-weeks, a senior company official said.

The company had recently announced a USD 400-million fund-raising programme for which it has already received Government approval.

The first tranche of funding would be through placement of shares with institutions to reduce debt, the official said.
"The initial tranche would be somewhere between USD 150-200-million and would be finalised in the next 3-4-weeks," Jet Airways` Senior Vice-President, M Shiv Kumar, told reporters here on Monday.

The company`s debt presently stands at Rs 14,200-crore and its debt-equity ratio at about 7:1, he said.

The private air-carrier`s CEO, Nikos Kordassis, said that the company`s plan is to raise USD 400-million.
"Our plan eventually is to raise USD 400-million," Kordassis said.

PTI



First Published: Tuesday, January 26, 2010 - 00:37
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