Jet Airways open to raise funds for expansion

Jet Airways open to raise funds for expansion
PTI
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First Published: Mon, Jun 11 2007. 05 30 PM IST
Updated: Mon, Jun 11 2007. 05 30 PM IST
Mumbai: With plans to launch its low-cost arm in the next few months, Jet Airways intends to raise additional resources to fund its global and domestic expansion, a top official said here.
“We are open to raise additional resources,” Jet Airways’ Executive Director Saroj Dutta said on the sidelines of an aviation conference here.
Prior to this, Jet had launched an initial public offering of over 1.73 lakh shares in February 2005, which was over subscribed 10 times.
He said the company was also considering launching cargo operations soon and has started the process of acquiring four additional Boeing 737s.
Replying to a spate of questions on the erstwhile Air Sahara which is now a wholly-owned subsidiary ‘JetLite´, Dutta said its branding would be completed in the next three to four months.
In a recent interview to PTI, Jet chief Naresh Goyal had said all necessary government clearances for JetLite had been received and the company was open to the idea of operating its low-cost arm on international sectors in the future.
He had said if low-cost airlines from the Gulf and Southeast Asia were allowed to operate in India, “we can ask the government” whether JetLite could fly abroad.
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First Published: Mon, Jun 11 2007. 05 30 PM IST
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