Jet Airways (India) has raised a loan facility of $150 million from West Asian financial institutions to part fund its three year turnaround strategy.
The five-year loan facility was fully subscribed by financial institutions from Dubai, Abu Dhabi, Bahrain and Doha.
“We will continue to build on this strong foundation as part of our three-year turnaround plan. This syndicated loan facility will be instrumental in underpinning the airline on this progressive path”, said Cramer Ball, CEO of Jet Airways.
Abu Dhabi Commercial Bank PJSC and Commercial Bank International PJSC were the Mandated Lead Arrangers while Ahli United Bank B.S.C and Arab Banking Corporation B.S.C. are the Lead Arrangers. Alpen Capital acted as financial advisors to Jet Airways for the transaction.