Jet Airways delays rights issue further to Jan/Feb 2008
27 Oct 2007
New
Delhi: Jet Airways Ltd has delayed further a planned $400 million rights issue
aimed at providing funds for the company''s expansion plans. The issue has now
been pushed to January or February next year, chairman Naresh Goyal said on Friday.It had earlier delayed the issue, in the month of September, because of "turmoil'' in global credit markets.
The
airline''s board had cleared the fund raising plans in June, with the funds to
be used for expansion and an overhaul of Air Sahara, which it bought in April
and has since renamed JetLite.