JET REVEALS PLANS TO REPAY RUPEE DEBT

Dino D'Amore
By Dino D'Amore February 4, 2011 14:08

JET REVEALS PLANS TO REPAY RUPEE DEBT

Jet Airways plans to repay about Rs1000 crore of debt each fiscal and will seek to prepay some of its high-cost rupee debt. The costly Indian rupee debt, of around Rs2000-3000 crore, will be repaid “at the earliest,” Jet officials said. The airline’s total debt is Rs13,000 crore.

The airline is awaiting approval from the Foreign Investment Promotion Board to raise up to $400 million (Rs1821 crore) from a share sale to foreign institutional investors.

Dino D'Amore
By Dino D'Amore February 4, 2011 14:08
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