Nusli Wadia-promoted low-cost carrier is in talks with 3-4 airlines from Europe and Middle East and has appointed JPMorgan to look for a partner.
Jet is looking to raise $300 million through an external commercial borrowing route and has initiated a process facilitated by Etihad.
The airlines would have to rework the terms of the deal and may also have to make an open offer if Sebi wants an open offer.
As per the agreement, Jet will sell 2.72 crore shares through a preferential offer at Rs 754.74 apiece, giving the Etihad a 24% stake in the company.
This rags-to-riches self-made entrepreneur has always managed to cut the sweetest deals for his airline. His latest deal with Etihad is no different.
CAPA estimates that the market will open up further and there will be more penetration to the Tier-II cities in India.
The airline over the past couple of months has created a buzz in the market with shockingly cheap fares to South East Asian countries.
Despite opposition to the proposal from powerful sections of the govt and Air India, the AAI believes this is the right way to go.
Kingfisher is considering an option to seek permission to operate flights on a cash and carry basis till such time it clears AAI dues from the state-run authority.
AAI has threatened the airline that it will withhold the no-objection certificate to authorities till such time its dues have been cleared.
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