14 May 07 Jet Airways rights issue
Leading Indian private airline, Jet Airways plans for a $400 million rights share issue. Jet Airways will use the funds generated from the rights issue for expansion purposes and for starting a dedicated cargo service by the end of this year. This $400 million rights issue is expected to be completed successfully within the next four months. Jet Airways’ market share is a little over 30% at present. Air Sahara, which Jet Airways had aquired recently has a market share of about 8%. Jet Airways is now the market leader with a combined market share of a little less than 40%.
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