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Our Bureau

Mumbai, June 19

The board of directors of Jet Airways will meet on June 26 to consider its proposed rights issue of $400 million. The funds are meant for its expansion plans. The airline plans to add 22 new aircraft by 2008, of which 10 will be Airbus 330 and 10 Boeing 777.

Jet had also mentioned that part of the fund — about $50 million — would be used for Jetlite, the renamed Air Sahara airline, which Jet acquired recently. Jet Airways India Ltd also informed BSE that the board would declare the company's audited financial results for the fourth quarter and the financial year ended March 31, 2007.

More Stories on : Rights Issue | Airlines | Jet Airways (India) Ltd

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