Jet Airways, Banks In Talks On USD$180 Mln Loan - Report

June 30, 2016

India's Jet Airways is talking to lenders about raising up to USD$180 million through a loan, according to a media report.

The airline, partly-owned by Abu Dhabi's Etihad Airways, last month reported its first annual profit since 2007, saying it made a net profit of INR12.12 billion Indian rupees (USD$180 million) in the year ended March 31.

Jet was planning to raise USD$150 million, but that amount could rise to USD$180 million based on demand, Reuters quoted sources as saying.

The company was last in the market in December 2014 when it borrowed USD$150 million from banks over a five-year period for general corporate purposes.

(Reuters)