Jet Airways to clear Rs1000 crore of debt annually

03 Feb 2011

1

Mumbai: Jet Airways (India) Ltd, India's top private airline by market share, plans to repay about Rs1000 crore of debt each fiscal and will seek to prepay some of its high-cost rupee debt, officials said Thursday.

The company is looking to prepay its high-cost Indian rupee debt, amounting to between Rs2000-3000 crore, "at the earliest," Jet officials said in a conference call with analysts.

Jet Airways has a total debt of around Rs13,000 crore.

The airline is awaiting approval from the Foreign Investment Promotion Board ( FIPB )) to raise up to $400 million (Rs1821 crore) from a share sale to foreign institutional investors.

On Wednesday, Jet Airways had reported an 11.3 per cent rise in third quarter net profit, resulting from higher demand for air travel in India.

Jet officials said Thursday the airline expects to improve margins in both domestic and international operations by 2-3 per cent going ahead.

Next fiscal, the airline also plans to start new international routes to destinations in Europe and the Far-East, officials said.

 

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers