Jet Airways plans $400 mn rights issue

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New Delhi, Mar 7, 2008 : Jet Airways Ltd has borrowed $300 million to meet its immediate cash needs, but according to senior officials a planned $400 million rights issue and private placement of shares were on track.

Jet, which last year put a rights issue on hold because of the global credit crunch, had said in January that it expected to complete the issue in a few months and raise a further $400 million from a private placement with institutions.

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